Jim Rogers on Glenn Beck
-Things are going to get worse
-2 years from now: lot more unemployment, more bankruptcies, civil unrest
-Main problem is Greenspan and Federal government would not let the market work. If he let Long-Term Capital Management go under, we would not have the problems now. Instead we have massive bailouts over and over again
-U.S. dollar will collapse and interest rates will go higher
-It would be better if we took the pain now and take 2-3 bad years, then 12-13 years of trouble like Japan
-Sell rallies. Put money into natural resources, mining, agriculture, energy, and foreign currencies. I am world’s worst short-term market timer
-Cut taxes, cut spending. Going deeper into debt to solve a big debt and borrowing problem is lunacy
-Treasury auction or two sometime in next year or so where people only bid for 82 billion out of 100 billion auction, when that happens you better run for the hills