Posted on 02/17/2013 4:16:01 AM PST by Perseverando
Noted investor, free market advocate, and author Jim Rogers during an interview with Glenn Beck on Wednesday said that Tuesday’s State of the Union address makes you wonder whether President Barack Obama is “delusional” or just a good liar.
Our “debt is physically impossible to pay off,” Rogers said after Beck asked whether the country has passed the point of no return. “We are the largest debtor nation in the history of the world.”
“If everybody paid 100 percent of their earnings as taxes, we still couldn’t pay it off,” he added.
The famed investor then turned his attention to the president’s statement last night that our economy is getting stronger.
“Mr. Obama said last night that everything is great,” Rogers said, much to Beck’s amusement. He added: “He said that everything is great and that the middle class is on the way back and everything is fine now.”
“I mean, the man is delusional. I was really afraid when I saw that,” he continued on a more serious note. “It’s delusional. It was frightening.”
“I don’t know if he believed it or if he was just lying,” Rogers added.
“I don’t really care at this point,” Beck chimed in, “He’s either the best liar or he is completely delusional. I don’t know which it is, but it doesn’t matter.”
“There’s a whole crowd of good liars out there in Washington,” the famed investor joked.
(Excerpt) Read more at theblaze.com ...
Bert, I honestly checked and I can’t find a resource that explains it. How does this work?
At the risk of restating the obvious - inflation is the solution for governments and the banks and Wall Street. But it will crush the American spirit for good. It’s happening now, so slowly and unobtrusively. I wish I could see how it stops.
It’s called the rule of 72.
If you make an investment that pays 7% and reinvest the earnings at that same rate in roughly 10 years the amount invested will be double.
To double your money at a specific rate divide 72 by the time and you will get the required rate. That is 72/10 years = 7.2 %
Inflation compounded works in reverse. Set the rate for say ten years and the amount owed will effectively cut in half.
I cannot find an argument against anything you said.
While I am a fan of Jim Rogers, don’t forget that he co-founded the Quantum Fund with George Soros. That fund was very successful due to clear thinking and vision. But it points out that when men who lack a sound moral framework are given power via wealth, they can use that power to destroy the very society they otherwise seek to protect by sound economic principles.
Reference: http://en.wikipedia.org/wiki/Jim_Rogers
This is kind of amazing when you think about it. If true, and I think it is, what does that make them? Enablers? Criminals? Fellow travelers?
Obama is rich from Bill Ayres writing one half-assed book about Obama’s father? I don’t think so. How did Bill Clinton get rich? How many laws has Pelosi had passed that helped make her rich.
We are run by a country filled with rich politicians, who excuse themselves from Obamacare, taxes and even excused their kids from Government college loans.
“However, when half the population draws sustenance from the federal government, “ It isn’t bad enough that half of the American population is drawing subsistence, but how many Billions are we paying to subsidise people who are here illegally?
Emperor Failsalot is delusional but the media trys to act like they don’t see the zit on a womans face.
Honestly, I don't think they do know. They are totally disconnected from the people they are supposed to represent and from what the government is doing to those people.
Take one simple example, the pending ban on incandescent lights. How did this happen? Does anyone think the net affect will be positive in the end? How can they get away with this?
I concur with the rest of your post.
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