Jim Rogers: USA Now "More Communist Than China"

Jim Rogers, the famous billionaire commodity guru, commented on CNBC earlier today that with the Fannie Mae/Freddie Mac bailout, the USA is now "more communist than China". Rogers was one of the geniuses that made George Soros' Quantum fund such a monumental success, and helped Soros acquire his own billionaire status. Here is an article that details the story:

Fannie/Freddie Bailout Makes America 'More Communist Than China'

If this doesn't fix the credit crisis, and economic conditions continue to deteriorate, this latest bailout is so big that it could be looked at through the retrospective lens of history as the biggest economic catastrophe in history. Let's hope our financial system survives this one, because the next shoe to fall could be too big for even the U.S. government to apply a tourniquet!