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Jim Rogers: More Pain for the Greenback, and the Failure of the Federal Reserve

SINGAPORE - By bailing out Wall Street and applying “band-aids” to the economy, the U.S. Federal Reserve may well be causing its own downfall - even as it hastens the demise of the greenback as a viable global currency, investment guru Jim Rogers told Money Morning during an exclusive interview.

Because of such strategic missteps, U.S. consumers could be facing a long and painful economic malaise, similar to the “lost decade” of 1990s Japan, or the stagflation-riddled 1970s in the United States, Rogers said.

Make no mistake: If that happens, there are two clear culprits - current Fed Chairman Ben S. Bernanke, and his predecessor, Alan Greenspan.
http://waronyou.com/2008/05/jim-rogers-more-pain-for-the-gre...



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