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Jim Rogers: Ireland Should Go Bankrupt

November 23, 2010
“There is no reason that taxpayers around the world or around Europe or in Ireland should pay for other peoples’ mistakes. The banks who lent the money and made the mistakes should lose money. The bondholders and the stockholders of those banks should lose money. It’s that simple.”

Author and financial commentator Jim Rogers is not making too many friends with our friends across the pond. Not too long ago, Jim Rogers stated the pound sterling would not be around in the near future. In an interview with Russia Today, Jim Rogers states that the EU, Ireland, and the world would be better off if Ireland would simply go bankrupt. the reason everyone would be better off is simple. In the feature, everything Ireland earns would be used to pay off the amount of money it has borrowed.

About the author:

Alex Garcia
Alejandro Garcia, B.S. Business Admin-Option in Finance, is a private value investor who uses his blog as a means to write about his experience with Joel Greenblatt's Magic Formula

Visit Alex Garcia's Website


Rating: 3.2/5 (11 votes)

Comments

brianbook
Brianbook premium member - 3 years ago
Such compassion for the common people of Ireland.
Pooch
Pooch - 3 years ago
I listen to Jim Rogers ... he has a good macro level view of world wide economies and investing, which, to me, is the first cut to any investing. Do I invest big in his ideas? No. I don't have the courage, but a small percentage helps smooth out other invesments that may not be doing so good.Should we let Ireland go bankrup, or any other country, or company, using Jim's very basic - long range view? Jim is probably correct, but I am not qualified to see all the implications, so I probably wouldn't have the courage to make the decision if was mine to make. I have made good money in Jim's ideas over the past year ... commodities, China, and other tips.
wong kam leong
Wong kam leong - 3 years ago


I am living in Malaysia.I was very fortunate that Jim Rogers moved to Singapore sometime before 2007.The newspapers gave him a lot of exposure and i benefitted from his views on the dire state of the U S economy and the impact on the American banks. I was very tempted to buy the financial companies on the way down in 2008 but luckily i stayed far away from them because i didnt want o go against Jim's views. I am thankful that by holding back in 2008, i had the monies to buy the safer stocks in 2009 and pocketed huge gains.I am waiting for Jim to tell me when is it reasonably safe to enter the financial stocks again.I really give Jim's views the appropriate respect and thoughts it deserve.Even if i dont fully agree with him, i rather err on the side of caution by not investing against him. Anyone should be forewarned. KL WONG

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