Jul 22 2008
Freddie and Fannie Bailout Doubles National Debt
Sober thinking from Jim Rogers. What’s most worrisome is how entrenched mainstream thinking is in the two journalists doing the interviews. While some might suggest that these two are just financial talking heads, their objections are straight from the standard list of most apologists of the fractional reserve financial system and the current spate of bailouts to “save the system from even worse.”
What a racket.
JE, excellent interview. Thanks for sharing this with us. Iam a little fuzzy on Rogers figures: 5 Trillion doubling to 10 Trillion. I thought we already owed almost 10 Trillion before the GSEs???
Rogersis exactly right to be exasperated with questions. The news people can’t contemplate this kind of failure. We have an economic system where we have taken away the risk of failure for allbut the little guys.