Jim Rogers : The Situation in Europe is getting out of control

Jim Rogers : The solution Jeff to too much spending and too much debt is not more spending and more debt , if you look at all the projections from all the European countries they all show that debt is going to be higher next year higher and higher the year after that nobody shows debt going down , The Situation in Europe is getting out of control and it is already out of control in the US , you got to have to take your pain sometimes Jeff , if you did it now you could ring fence everybody , some banks will survive but the system would survive , but Jeff right now government have some credibility and some ammunition left at least in Europe if you wait a year or two or five when the market forces you to deal with reality then the countries and the banks have no credibility they're out of control and the whole system gets crushed . I'd rather take the pain now then when the market forces have to take the pain and that could be the end of the system .......- in CNBC