Thursday, June 14, 2012
I am not really sure why I haven't posted anything here by Mr. Rogers prior to this. From what I can tell he is one of the smartest people in the room. His expertise is more in the area of commodities than equities, but that would make him an expert in commodity companies at the very least.
It would seem like common sense, but politicians and even too many economists believe the solution to too much debt is more debt. Mr. Rogers disagrees. He also talks about when the economic collapse will come, rather than if it will because of the snowballing debt world wide. He states that competent people are supposed to be allowed to replace the incompetent ones who lost all their money. Failing to do so, he says is "Absurd economics and absurd morality." It reminds me of the author Stephen Covey who used to say we can't talk our way out of things we have (mis)behaved our way into.
Do you think Europe will survive intact?