Posted on 06/23/2012 4:56:29 AM PDT by Olog-hai
A continuation of bailouts in Europe could ultimately spark another world war, says international investor Jim Rogers.
As an alternative, he recommends a combination of capitalism and socialism to weed out weak European banks and companies and to support the strong.
“This is how we got into World War II,” Rogers tells Yahoo, referring to Europe’s handling of its financial crisis.
“Add debt, the situation gets worse, and eventually it just collapses. Then everybody is looking for scapegoats. Politicians blame foreigners, and we’re in World War II or World War whatever.”
The Rogers solution: “Let the people who have failed, go bankrupt,” he says. “The banks and bondholders would lose money, but then you start over.”
That’s classic capitalism, Rogers says. “Bailing out zombie companies and banks has never worked. Look at Japan.”
But free markets alone can’t solve the problem, Rogers says. Governments must help choose the winners and losers—and quickly.
“If you wait two years from now, five years from now, when no government has any credibility and nobody will give you any more money, then it's finished. You better get yourself a rifle and head to Asia." …
(Excerpt) Read more at moneynews.com ...
That mixture is like a woman trying to be both pregnant and not pregnant. By definition, not possible.
You are either free under capitalism or slaves under socialism (or one of the other Totalitarian derivatives)
” “Let the people who have failed, go bankrupt,” “
The ‘people who have failed’ are the ones who are so firmly entrenched in power that they can - and will - bring the whole house of cards down around them, if it would ‘preserve’ their positions...
I’m bored with so called experts comparing this situation to the beginning of another world war.
Which ones of the heavily armed and capable militaries in Europe are going to fight a major World War again?
Thats right, there aren’t any.
Just hyping the end of the world scenarios if the cash isn’t given forthwith..
A war won’t start because poor countries that have made bad decisions become poorer.
A war will start when the richer countries that are carrying the weight get a dynamic leader that tells the population what has been done to them and makes a proposal for getting it back.
Rogers: “Get yourself a rifle and head to Asia.”
Rogers has already headed to Asia; he moved to Singapore. He took his family with him. I don’t know whether he brought his rifle or not.
As for me, when the great melt-down comes, I don’t think I would want to be in Asia even with a rifle. As Tonto said to the Lone Ranger, “What do you mean ‘we’?”
Indirect control of the means of production is Fascism, TF. We have significant elements of fascist structure in our government and have done since FDR. We also have capitalistic and socialistic elements.
That would make our government a Progressive mixed government. For myself, I prefer the original mix of democratic, oligarchic and monarchic.
Rogers once again being quotable by stating the obvious.
I prefer what you suggest, EXCEPT the monarchic reference.
Surely you are not a defender of Monarchy as a respectable fom of government. This nation was founded in a rebellion to that form of Totalitarianism.
“Governments must help choose the winners and losers—and quickly.”
How did that work out for the GM/Chrysler dealers that were shut down in the last purge (because they weren’t Obama supporters)?
The only people I have ever met who are defender's of Monarchy as an acceptable form of government are Palio-Conservative Catholics. They are a different lot, as opposed to the far leftist Catholics that inhabit the Liberation Theology sphere.
Talk about opposites.
Germany a model?
If if remember correctly Germany began 2 great wars during the 20th Century. At a cost???
German culture is fatally flawed. They have forever accepted central authority without question to the point of despotism.
Correction:
Palio-Conservative
Should read:
Paleo-Conservative.
—
It has been a very long time since I used that word. For a number of years I read Thomas Fleming’s “Chronicles”. That was back in the days I flirted with Libertarianism. It finally dawned on me what he was actually about and I dropped that crap.
Nuclear weapons have fundamentally changed the strategy of war. I think the desire to solve a problem by going to war will be manifested by conducting warfare by other means. In fact, I think the west is being subjected to warfare by Islamists and by China via the aggression it uses to gain manufacturing capacity by making the cost of doing business in China so low compared to the west that it is a natural decision for business to move there, and then to lose intellectual property via local ownership and an incompetent legal system.
Another name for fascism is “public-private partnership”.
And “partnership” is such a nice word. A word I’ve noticed that CEOs like to use. They like to move their operations to places where they can cozy-up with govt.
No Jim, methinks Deutschland will win this one without ever having to fire a shot.
5.56mm
The American Revolution was the result of the actions of Parliament.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.