Jim Rogers thinks that the coordinated actions by the central banks will "make the problems worse."
Five central banks agreed to lower swap lines. The Federal Reserve, the European Central Bank as well as the central banks of Canada, Britain, Japan and Switzerland agreed to lower the cost of existing dollar swap lines by 50 basis points starting from December 5.
He thinks that the stock market will rally for a day or two but the core problem of too much debt has not been addressed.
Five central banks agreed to lower swap lines. The Federal Reserve, the European Central Bank as well as the central banks of Canada, Britain, Japan and Switzerland agreed to lower the cost of existing dollar swap lines by 50 basis points starting from December 5.
He thinks that the stock market will rally for a day or two but the core problem of too much debt has not been addressed.
