Jim Rogers shorts US treasuries, talks JP Morgan Silver and a boom in North Korea!
Welcome to Capital Account. US GDP rose by two percent in the third quarter, slightly above the 1.9 percent economists forecasted. According to the Bureau for Economic Analysis, this increase was driven by personal consumption and federal government spending. National defense spending, which contributed to the rise in federal expenditures, increased by thirteen percent in the third quarter, compared to a 0.2 percent decrease in the previous quarter. Is a recession no longer an immediate concern? We talk to Jim Rogers, author of the book 'A Gift To My Children,' about what he thinks of the latest economic growth numbers and his outlook on a possible recession after the 2012 elections. If there is a recession, could it lead to more political prosecutions, as we have seen recently in Italy? Silvio Berlusconi, the former Italian Prime Minister, has been sentenced to four years in prison for tax fraud. Although he may never serve the time, we ask Jim Rogers if we are likely to see arrests of government leaders or private sector executives in the US.