The current recovery is just a consequence of the fact that consumption fell so dramatically in 2008 and people have to buy things they need in 2009, Rogers told “Worldwide Exchange.”
“How can the solution for debt and consumption be more debt and more consumption? How can that be the solution to our problems?,” he said.
Video: Jim Rogers, CEO of Rogers Holdings, told CNBC Monday that when Lehman Brothers failed he thought “thank goodness they’re finally letting somebody collapse.”
“I would expect there to be a currency crisis or a semi-crisis this fall or next year. It’s crony capitalism, Bernanke and Greenspan have brought crony capitalism to America … but that’s not going to solve the world’s problems,” Rogers added