Roger that

Monday 9 March 2009, 10.04am HKT

Jim Rogers, chairman of New York-based investment firm Rogers Holdings, speaks candidly on television why the economic rescue measures in the USA are not going to work:

“Japan’s market is 80% LESS of what it was 19 years ago! The U.S. is making the same mistakes that Japan made. They’re trying to prop up companies that should have just failed. Sometimes it is cheaper to let the recession ride than to rescue it.”

… and the mindset behind the need to rescue is deeply flawed:

“Tell me just once how Lehman Brothers and Citibank can’t be allowed to fail?! Investment banks crop up and fail all the time. What’s the big deal?!”

(6.30am, 09 March 2009)

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