Rogers' quote: "America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich… it's just bailing out financial institutions."
As the included video clips of Rogers being interviewed by CNBC make clear, the quote was made in reference to the US government's "intervention" to rescue large financial institutions like Freddy Mac and Fannie May. Rogers also makes very clear that this multibillion dollar, taxpayer-funded bail out for mammoth financial institutions is a disgusting display of hypocrisy from the conservative GOP supporters of this policy: These same lawmakers are essentially admitting that governmental social and economic programs which rely upon taxpayers' money to assist working poor families is very, very bad. But taxpayer-funded largess on behalf of big banks threatening "imminent bankruptcy" is just fine, thank you!
Update: I almost forgot to note this interesting and extremely relevant little nugget about Rogers' views on the global economy, courtesy of Wikipedia:
In September 2007, Rogers sold his mansion in New York City for about 15 million USD and moved to Singapore. This is due mainly in his belief that this is a ground-breaking time for investment potential in Asian markets. Rogers' daughter is being tutored in Mandarin to prepare her for the future, he says. "
Moving to Singapore and Dubai now is like moving to New York City in 1908," he said. Also, he is quoted to say: "If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia." In an CNBC interview with Maria Bartiromo broadcast on May 5, 2008, Rogers said that people in Asia are extremely motivated and driven, and he wants to be in that type of environment to be himself motivated and driven. He said during that interview that, this is how America and Europe used to be.
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