Jim Rogers: The Stress Tests Were A Huge PR Gimmick And Now More Problems Are Coming

Jim Rogers 616

The stress tests have solved nothing, says JIm Rogers.


Rogers said the European test was “a PR exercise just as was America’s.”

They were “a waste of time – and journalistic ink,” he wrote in an e-mail.

“There are more problems coming in the currency markets, pension funds, US states and cities, etc. None of this was considered although the latter is only indirect for the European banks,” he said.

We’d like to see a U.S. states stress test, to see how bad things could get in the U.S.. One that isn’t just a PR exercise, of course.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.