Thursday, February 18, 2016

Savers who followed their parents advice getting wiped out

We all could be moving our investment markets everywhere whether it is stocks or bonds whatever happens because of this craziness that Washington has been doing. You know the way the world is supposed to work — your parents taught you to save and invest for your future. For all the people who did that, who saved and invested for the future, are getting wiped out because they are getting zero interest or getting no return on their money, which is damaging pension plans, trust, insurance companies.

It’s destroying all the people who save. So we are going to have a big mess as debt has gone up and savings have gone down.

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.