Greece, Greece is terrible. The U.K. is terrible. They have serious, serious problems. Ireland is in serious trouble, which is worse? The U.S. can print money and therefore it can conceivably put off its problems further than anyone else. But at the same time, it looks like the European Central Bank is going to continue to bail out some of the European countries that are in serious trouble.
They're all bankrupt. The U.S. is bankrupt. Greece is bankrupt. We're sitting around deluding ourselves. The U.K. is bankrupt. If you look at the numbers there's no way the U.S. can ever pay off its debt. I haven't done enough homework to know, but there are friends of mine who've said the U.S. cannot pay its debt. Within five years, the U.S. will be defaulting on its bonds. I have not done that homework myself."
Jim Rogers
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