Filed under: Market Matters, Personal Finance, Federal Reserve, Financial Crisis, Currency
Jim Rogers, chairman of Rogers Holdings, has long advocated fiscal conservatism. In a recent interview for CNBC, he told the U.S. to stop printing money, bite the bullet and go on an austerity program. His ideas are sound but are falling on deaf ears at the Federal Reserve. Rogers said that he would rather have Europe manage our fiscal policy.
We must remember that Fed chairman Ben Bernanke has already pledged and spent $12.8 trillion dollars to bail a handful of bankers. Now he says he will spend more if needed. He is already pumping money into the economy by buying treasuries with the proceeds of expiring securities.
Continue reading Rogers: U.S. Should Adopt Austerity Measures
Rogers: U.S. Should Adopt Austerity Measures originally appeared on BloggingStocks on Thu, 02 Sep 2010 13:00:00 EST. Please see our terms for use of feeds.
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Ben Bernanke – Federal Reserve System – United States – BloggingStocks – Fiscal policy
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