The mistakes that were made during the crisis is that the incompetent people weren’t allowed to fail. Instead, money was taken from the competent people and given to the incompetent people. This is terrible economics. This has happened many times before. Many banks have gone bankrupt, it’s not the end of the world.
Your Children, your grandchildren, and even you will have a large amount of debt over their heads because of this. There is no reason to pay any attention to the credit rating companies. They have been wrong too many times in the past.
There aren’t many good things coming for the dollar or the pound. The main takeaway from this Jim Rogers speaker event is that there aren’t many, if any, sound currencies left in the world.
