SINGAPORE - By bailing out Wall Street and applying “band-aids” to the economy, the U.S. Federal Reserve may well be causing its own downfall - even as it hastens the demise of the greenback as a viable global currency, investment guru Jim Rogers told Money Morning during an exclusive interview.
Because of such strategic missteps, U.S. consumers could be facing a long and painful economic malaise, similar to the “lost decade” of 1990s Japan, or the stagflation-riddled 1970s in the United States, Rogers said.
Make no mistake: If that happens, there are two clear culprits - current Fed Chairman Ben S. Bernanke, and his predecessor, Alan Greenspan.
Because of such strategic missteps, U.S. consumers could be facing a long and painful economic malaise, similar to the “lost decade” of 1990s Japan, or the stagflation-riddled 1970s in the United States, Rogers said.
Make no mistake: If that happens, there are two clear culprits - current Fed Chairman Ben S. Bernanke, and his predecessor, Alan Greenspan.
