Here, Jim Rogers discusses how every 4 to 6 years we`ve had a slowdown or a recession in the US ever since the beginning of the republic. As a result, he believes we are overdue for one in the end of 2011, 2012 or 2013, and how it's out of bullets to do anything about it.
The November 23 deadline is nearing, and the “super committee,” created by the Budget Control Act, is still dealing with its mandate to find $1.5 trillion in deficit reduction savings. One of the ideas being tossed around is to RAISE taxes in order to reduce the deficit. But as the chart below shows, inadequate tax revenue is NOT the problem, way too much spending is.
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