The renowned American investor Jim Rogers warned Japan on Thursday of a stark future that points out two specific issues – the massive debt burden and the demographic implosion. “As far as I can see Japan does not have a good future,” Rogers said at a news conference in Tokyo. The warning was specific when Mr Rogers, Chairman of Rogers Holdings and Beeland Interests Inc who founded this Quantum Fund with George Soros in the 1970s, was in Japan to promote his new book, “Warning to Japan” which came out in Japan in July.
He said that Japan must decide and make some tough changes. He said at the Foreign Correspondents` Club of Japan. He said that Japan allowing 340,000 foreign immigrants and workers in over the next 5 years is a nice gesture, but he prefers worldwide open boarders. He said that PM Abe should cut spending, not with an axe buy with a chainsaw. This would be an alternative measure to the tax hike on October 1.