Apr 14, 2008

Jim Rogers on the credit bubble

We had the worst credit bubble ever in American history, perhaps world history. I can't remember anytime in history when people were able to buy a house with no money down -- sometimes with no income. You don't clean out a bubble like that in six months to a year.

~ Jim Rogers, "Light-Years Ahead of the Crowd," Barron's, April 14, 2008

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