Jim Rogers Says Let Ireland Go Bankrupt, Would Learn Lesson

Once again billionaire commodity expert and investor Jim Rogers has it right, as he calls for Ireland to be allowed to go bankrupt in order to learn a lesson concerning their irresponsible borrowing, and for Europe to show they're serious about the euro remaining a legitimate and strong currency.

The European Union will have none of that, and is going to borrow over $100 billion to shore up the Irish banking system, and some are calling that not enough.

Rogers said it's time for banks and countries around the world to learn to not spend more than they can pay back. While an obvious and responsible suggestion, there are very few that take heed to the simple advice of Rogers.

You wonder why so many individuals are in difficult times, as they simply follow the lead of financial institutions and countries and continue to borrow far beyond their means.

Rogers has been consistent with his call on the European Union, having called for Greece to be allowed to go bankrupt, which now has somehow discovered, after being bailed out, that they understated the size of their deficit.

This will continue on until someone has the integrity and strength to say enough is enough.

You continue to hear politicians say they must bail out these countries to preserve the EU, not even understanding that be bailing out the countries and making the euro weak and a joke, they're destroying it themselves.