(RT) interviews Jim Rogers about the pending US debt ceiling issue
and what all this really means for the future of the US economy
and for the average American in general.
RT's Lucy Kafanov
asks Rogers, "When you say that even if we do reach this deal
everthing looks good for a little while but six months to a year
it gets worse. What do you mean when you say it gets worse? I mean
it's easy to talk about these abstract terms but if you look at
the facts, 14.1 million Americans unemployed, over half of all American
families live from paycheck to paycheck, more than 44 million are
on food stamps. What is it going to look like for those of us who
can't afford to move to Singapore?"
To which Rogers
replies, "We are all going to continue to get deeper and deeper
into debt. ... The overall situation is getting more and more serious.
America is now the largest debtor nation in the history of the world.
This cannot go on forever. ... You think the problems are bad now?
You wait until we don't have any more credit. You wait until the
currency is collapsing. You wait until interest rates are going
through the roof and inflation is going through the roof. It's not
going to be a pretty picture. There will be social unrest. It's
going to be a mess. But the sooner we deal with it the better."