Salient to Investors:

Jim Rogers writes:

For a few thousand years, when people got into trouble and failed, competent people reorganized the assets and started over. Today, America and the West are kicking the can down the road and letting the incompetent people take over the assets from the competent people and letting them compete with the competent people. In the early 1990s, Japan tried this and lost 2 decades, whereas Scandinavia let people go bankrupt, suffered a horrible 2 or 3 years but then grew dramatically over the past 15 to 20 years.

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