He said "let banks fail and start over" Do you agree with Jim Rogers?

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mrchitrade

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"The idea that you have too much debt, too much borrowing and too much consumption and you're going to solve that problem with more debt, more consumption and more borrowing? These people are nuts."
quote Jim Rogers.
 
if the banks fail the us would be heading towards a pre second world war germany. anno 1929-1936. 1000 dollars wouldnt buy you a loaf of bread
 
That's the media for you: soundbites.
It's a basis for discussion but it doesn't carry any weight.
 
no i agree with him. now the burden is on the citizens. businesses don't make it because they are not strong enough.
 
If the banks failed then the current recession would be ten times worse.
 
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