Jim Rogers

Paul Krugman has been making the rounds of the network morning shows, urging the government to "go big" in spending to revive the economy.  His only concern is that Obama might not be planning to spend enough.  Heck, even FDR wasn't a big enough spender in his book.  View Krugman's weekend GMA appearance in which he says that here, the episode in which, as discussed here, Krugman of all people had to talk Kate Snow down from her fantasy of Obama "forcing" the Bush administration to adopt his policies.

None of the network shows had anyone on to debate Krugman.  But the Early Show did invite Jim Rogers in today to give very much the other side.  The legendary investor's take: let the banks fail.  The massive bailout underway will put our country in hock for decades.  Almost 20 years later, Japan has still been unable to get out of the hole it dug when it, like the US now, decided certain institutions were too big to fail.

Imagine seeing this prediction on your television screen: "Oil will hit $150 or $200 during this commodity bull market."

Makes you want to stockpile oil while it is priced at $98 a barrel, but such was the case on CNBC today.

Credit Billionaire Jim Rogers, described as a commodities guru and a founding partner with the infamous George Soros of the Quantum Fund in 1970. He told Maria Bartiromo on the November 20 "Closing Bell" on CNBC he see's no slowdown in the rising price of oil, regardless of what OPEC does.

"OPEC had a big meeting this week," Rogers said. "If they had a lot more oil to produce, they would be producing it. They don't have it."