Billionaire Jim Rogers calls for Obama's resignation over economy (Predicts violence & rioting)

The Examiner ^ | June 26, 2011 | Kenneth Schortgen, Jr.

[2ndDivisionVet]

Billionaire and investor Jim Rogers late this week called for the resignation of President Obama on the grounds that the administrations failure to cut spending, and halt skyrocketing inflation, will lead to violence and rioting in America, similar to what has been taking place in Greece, and other parts of Europe.

Investment guru Jim Rogers says President Barack Obama should resign — and warns that inflation will only continue to soar, putting the United States at risk of the same civil unrest that has struck Greece.

Rogers says that what Obama “should do is take an ax — no, not an ax — take a chain saw to spending in the U.S.”

Rogers tells Bloomberg Business Week that “we have got to balance the budget. We have got to pay off the debt, somehow, someday.” – Money News

This radical stance pointed towards the President by Jim Rogers came shortly before a speech by Obama on Saturday, June 25th, where the President strenuously stood by the massive spending polices of the last three years, and said that cutting items from the Federal budget will not lead to prosperity.

"Of course, there's been a real debate about where to invest and where to cut, and I'm committed to working with members of both parties to cut our deficits and debt," Obama said in his weekly radio address. "But we can't simply cut our way to prosperity," he added.

Obama said the nation still needed to invest in education, infrastructure and developing new technologies to grow the U.S. economy. - CNBC

[2ndDivisionVet]

Maybe Michelle was talking to South Africa about asylum.

[Matchett-PI]

bttt

[Lazlo in PA]

Rogers has a lot of credibility with sensible people. I trust his opinion on this.

[Cobra64]

What is this "invest" word Obama's using? It's code for SPEND, and the sheep won't know the difference. "Invest" will be used incessantly for months by every lib politician and the "news" media.

Of course, our stupid Republican politicians won't pick up on it.

[Greysard]

the administrations failure to cut spending [...] will lead to violence and rioting in America

On the other hand, cutting spending will also lead to violence and rioting in America. A good part of US society receives government's checks, and these expenses are huge. Those people don't riot just yet because they aren't hungry. Give them a reason and they will destroy whole cities just out of hate. The country is blackmailed - keep paying us, or else.

The problem is that the US society is very sick. There are few producers of wealth (Boeing,) a good chunk of redistributors of wealth (the service industry) and a huge number of consumers of wealth (welfare.) This pyramid remains standing upside down only because of massive wealth infusions (the debt.) When the money ends the pyramid is going to crash down.

If I were to make decisions at this point, I would announce a 10-year plan on reducing the welfare to zero. A few categories will keep the money (only clearly disabled people.) Everyone else loses the checks, 10% per year. Only today I was driving by some constriction site, and there is a note on the building's frame - "WE ARE HIRING" - in 10 foot letters. If you drive past cities, by the fields, you will see that agricultural workers are in demand. So there are jobs if you are willing to work. The country is so large that it can easily sustain itself, just like it did for centuries before.

[Mariner]

"Rogers tells Bloomberg Business Week that “we have got to balance the budget. We have got to pay off the debt, somehow, someday.”"

You can bet your sweet bippy that neither of these things will occur.

The USA will default, by choice. A declared default.

When interest on the debt is $1tril/yr...and it nearly certainly will be within 10 years...we just say ef it. There really is no option to that besides eternal servitude to the Chinese

See, they are just as stuck as WE are. They know we are going to default but they cannot stop "lending" us money.

What a crazy, crazy world we live in.

[NoLibZone]

Predicts violence & rioting as does DNC Consultant James Carville.

When Obama loses there shall be blood.

The US middle class has never been as well armed as they are today.

[Sprite518]

About dam time we had a Billionaire with some integrity. I’m sick of the Obama loving Ted Turner types.

[hosepipe]

Welcome to earth Jim Rogers.. what planet are you from?..
Cloward-Piven has been going on for a number of years..

You know... Cloward-Piven.. the Alinsky thing..
You know Saul Alinsky?.. Again Jim what planet are you from?..

[nathanbedford]

Far from resigning, Obama intends to stay in office by demagoguery and crisis. That's why I believe he will force a crisis on debt extension and bring about a crisis for Social Security recipients etc. and demagogue the disarray by blaming the Republicans.

The entire negotiation process is nothing but a transparent charade to enable him plausibly to blame the Republicans, all the while knowing that the media will carry water for him.

He will do this because he needs a game changer and it puts him in a win-win situation. If he crushes the economy and the system in general he advances his Marxist ideology even if he loses the election but, in any case, he increases his chances in the election by muddying the situation.

Yet I hear Republican leaders like Sen. McConnell on the Sunday talk shows telling America that all sides want a compromise. Why do we play into Obama's hands this way?

[2ndDivisionVet]

What are the odds of martial law or similar if it looks like he will be defeated or if he indeed loses? And I think the fiction of “two parties” is being revealed with people like Senators McConnell, Graham, McCain, etc.

[BobP]

Zer0 responsibility.

''The buck stops anywhere but here.'' -- Barry Soetoro

Our Constitutional Republic is in danger every minute this petulant cipher continues in the White House.

[MikeSteelBe]

If it will suspend the election, the chances of martial law are 100%.

One term president = lifetime furher of the chocolate Reich.

[nathanbedford]

I see Obama as the sequential legatee of the leftist troika: The Frankfurt School, Cloward and Piven, and Saul Alinsky.

The first set out to deconstruct our eschatology, how we know what we know and why. In other words, to crash our belief system. Cloward and Piven set out to bankrupt our fiscal system, that is, capitalism, by radically redistributing property. Saul Alinsky set out to destroy the political system itself.

If one sees these three socialist endeavors in a sequential timeline, it seems that we are somewhere in the Cloward and Piven stage in which our financial system is sought to be destroyed. This is not to say that the undermining of the political system, Saul Alinsky style, is not proceeding apace in parallel, it is just that I believe the Cloward and Piven model is more advanced. But all three models have had more success than the vast majority of Americans have any idea about.

I would guess that Obama is more closely identified with the Alinsky School because of his personal association as an apparatchik in the organization. I have no doubt that he would take the main chance if he thought it would succeed and try to throw the country into some sort of chaos.

It is chaos that is the ultimate terrorist weapon of all of these three branches. The first wants chaos in our thinking, the 2nd wants chaos in our economy, and the 3rd wants chaos on the streets and in our body politic. That is why the left is so tolerant of fundamentalist Islam, because jihad brings on chaos with the terror.

Beyond that I can make no predictions.

[Lysandru]

CarVILE has predicted unrest. One of the other posters on this thread has predicted violence when Obama loses--as has one of my coworkers. I can't disagree.

But civil unrest is already upon us-- look at Wisconsin this spring and the spate of "flash mobs" that Drudge seems to note daily.

If Obama is re-elected, however, I predict revolution and/ or civil war within a decade. In fact, I am wondering if I should speed up my timeline.

I laid down my marker this past winter that an EU government will split up or be overthrown in 2011 (not just run out of office electorally). Greece looks like it may fulfill my prediction.

[Chickensoup]

When interest on the debt is $1tril/yr...and it nearly certainly will be within 10 years...we just say ef it. There really is no option to that besides eternal servitude to the Chinese

See, they are just as stuck as WE are. They know we are going to default but they cannot stop “lending” us money.

_____________________

Actually they could kill us and just move in. that would satisfy the debt. there certainly is precedent in history.

[screaminsunshine]

Violence and rioting are part of King Obamas plan. Sir Holder and Sir Geitner and other nefarious Knights are doing the dirty work. Life is good in Scamalot.

[NoControllingLegalAuthority]

Give them a reason and they will destroy whole cities just out of hate.

Heavy automatic weapons. Bring it.

[Texas resident]

Failure to cut spending will lead to riots.
Actual cutting spending or even the rumor of spending cuts will lead to riots.
The Party set the table for this.
Never let a crisis go to waste because the Party can pull off things that they would not be able to during normal times.
The financial mess was created by these people and their solutions are just more of the same.
This is intentional.

[Chickensoup]

Actually I think that this is an opportunity that conservatives will not want to miss. The redefining of our country from its present sad trajectory.