Jim Rogers: European Crisis will Worsen

While applauding the size of the haircut Greek bondholders are undergoing, billionaire investor Jim Rogers says it's not nearly enough when taking into account all of Europe, which face the same problem.

Rogers said to Investment Week, "Never in a million years did I expect them to impose a haircut of 50 percent, this shows at least somebody is starting to accept reality."

Even so, Rogers rightly concludes politicians have just kicked the can down the road again, saying "Politicians have delayed addressing the problem yet again."

"It will come back in a few weeks or a few months and the world will still have the same problem, but this time only worse because the European Central Bank and other countries will be in deeper in debt."

Rogers calls for haircuts of a similar nature if Europe is to be saved, something that would ultimately result in unrest across the region.

The problem is the socialist promises made by governments that are simply unsustainable, as Europe and the United States are finding out.

What politicians are attempting to do is pass or duck the blame in order to hide the fact that socialism and the attempt at a one-world government doesn't work.

Whether by design or default, the world is quickly going to find out that politicians have been lying for years concerning the promises they made, and that, hopefully, will be a big hit to the socialist and fascist agenda that has permeated the world for decades.

Rogers concluded, "There has been a major overhang, so we will see the easing of some pressure, but the problem will come back because the Western world still has not dealt with its debt."

"Most European countries are increasing their debt rather than decreasing their debt. Until that changes, the problems are going to continue, just as they will in the U.S."

It makes one wonder if there's a connection between that and the NATO-led overthrow of some of the countries in the Middle East recently, meaning an attempt to point the attention of the public in a different direction, while buying time.

Either way, time is running out for the West in regard to its enormous debt load. And unless there are major spending cuts, the weight of the debt will result in economies and the careers of many politicians to come crashing down, and inevitable unrest following.