Rogers: ‘US is the Biggest Debtor in the World and It’s Getting Worse Every Day’
SputnikNews.com
14.11.2016
Legendary investor, financial commentator and author of several books Jim Rogers told Radio Sputnik that the United States is “the largest debtor nation in the history of the world” and the situation is becoming even more untenable.
Rogers was commenting on the US dollar strengthening in recent days. The US currency reached its highest multi-month levels against other major currencies on Monday morning. The surge came on speculation that fiscal-stimulus under President-elect Donald Trump will bolster America’s economic growth and at the same time prompt the Federal Reserve to increase interest rates.
“There’s a lot of turmoil coming into the world. And when people are scared, they look for a safe haven. Many people think that the US dollar is a safe haven for historic reasons. It’s not a safe haven. America is the largest debtor nation in the history of the world and it’s getting worse every day. But that does not matter. People think that it’s a safe haven and that’s why it’s going higher because people are getting more and more worried,” he explained.
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