Jim Rogers on Coming Riots, Recession & the Day of Debt Reckoning

Let's take stock of the news out in the last 24 hours. Greece's leftist leader says the bailout deal is dead. Greek stocks plummet to 20 year lows. The S&P 500 takes a plunge to a two-month low, rebounds to a one-month low. Fitch says greece leaving euro would be bearable while UBS legend Art Cashin explains how Greece could end up back on the drachma.

 

 Wow! The headlines went from elections to drachma in less than 48 hours. We told you Greece was a going to be a big deal. We speak to investor Jim Rogers about real solutions. And the Spanish government says it will bail out one of the country's largest banks after saying it wouldn't need to throw more money at the banking sector. Oops. They couldn't help themselves with trying to prop it up. 

 

With all of the can-kicking in Europe and the US, and the refusal to look at the debt overhang, where are countries headed? We have some cold hard empirical facts to show the toll it can take. We're talking a 25 percent hit to real GDP. And guess whose taking on Wall Street? Our show's producer Demetri Kofinas with host of the Keiser report Max Keiser rock out in a new video. Plus, a hearing on how to "end or mend" the Federal Reserve in Washington is the opportunity to hear what Jim Rogers thinks about reforming the Fed, joblessness, increasing reliance on US welfare programs and upcoming elections. 

 

Rogers weighs in with his predictions of economic turmoil in the next 2 - 3 years and entire decade, accompanied by riots in the US.