JIM ROGERS: THE NEXT CRISIS IS ALREADY UNFOLDING
24 April 2010 by Cullen Roche
12 Comments
Kirby Daley, senior strategist at Newedge Group Jim Rogers claim the next crisis has already started to unfold as sovereign debt worries increase and global central banks only exacerbate the issues:
Source: CNBC
Hundreds of thousand people rally to protest inflation at India. In China, no matter how offcial paint low inflation picture, physical gold priced 25% above futures, housing price 11% MoM, inflation expectation exploded out of control already. Remeber all these followed ridiculous retail numbers from emerging markets and all the rants about emerging economies saved the world??
I feel incredible retail numbers in US preludes same thing, we are at initial stage of run away inflation expectaition. I do not think Fed is going to raise rate even a bit. Because rates of monetazation debt is a political issue, or national security issue whatever.
Gold will challenge inflation adjusted all time high very soon. Be prepared.
The thing that makes me dubious is the certainty with which Rogers makes his claims. I mean, what is the agenda of someone who is constantly on TV and calling for a Bond collapse, inflation, for everyone to become a farmer. I mean, no real educating there. The whole clip has the wrong whiff about it, in my opinion.
Well Paul it seems to me that you just plain dislike Jim Rogers, Why? I don’t know nor do I care but in this clip you only heard him say become a farmer. Yes so did I as well as anyone else that watched this clip but I don’t think you heard him say that the systemic risk is not in the lowly bankers who we should have let go bankrupt but the (systemic risk) lies in the sovereign debt and in paying strict attention to government spending, that my friend or not, is what Jim Rogers was saying about systemic risk….. Now, do you get it?????
Silence Doogood
Paul I don’t know what you mean by the wrong whiff…I wonder if Jim Rogers did any farming since he left Alabama for the marble alabaster halls of Wall Street?
What part of you cannot keep printing money and it not have an effect do people not understant?
Farms, mines, foundries…the people ACTUALLY MAKE STUFF. Banks do nothing but stir paper from one side of the toilet to the other and proclaim it more valuable while placing side bets as to who gets pi$$ed first when they find out what they have bought.
Farms, mines, factories, dry cleaners…these are the economy, not the Goldman Sachs of the world.
I think it is about time that banks realize they have held their position in the world only by virtue of their helping the real economy to move smoothly along in a growing fashion.
YES !!!!! We need to start building / making things again and selling what we built / make instead of buying everything that other countries make. Somehow or another the government has convinced many Americans that this paper the feds print is money and if you don’t have any that’s OK, we’ll give you a credit card so you can buy and spend and buy and spend and buy and spend again until we make all the other countries that are building and making things rich !!!!!!
At a minimum,
We need to get the laws reinstated on the financial industry from the 30′s, 40′s, and 50′s. Pass new laws concerning CDO’s and XYZ’s so this never happens again. If you break the above laws or fidicuary requirements, massive fines against corporations, personal liability by perputrators similar to RICO, and double the prison times to 10 Years absolute minimum time to be served before probation. Get rid of the Frederal Reserve and open their books to find all the criminal activity. Make Federal agencies and individuals subject to the same laws, jail time, and personal liabilty when they violate the laws! Anything less is just a smoke screen by the politicians and government agencies. God help us if we dont at a minimum do the above.
Jim Rogers is correct. The real problem in this whole mess is Government spending. We won’t have to worry about the socialization of health care or socialization of the banking system disguised as financial reform or anything else if Congress and this Administration continue to spend our country to death. The reality is that the odds of these programs ever being funded are slim. There are so many new rules and regulations on the books now that not even Government can keep track of them let alone fund them. Congress and this Administration are running this country straight into bankruptcy and a currency collapse. Buy Gold!
AND SILVER …..
Silence Doogood
Jim Rogers is correct regarding the current financial crisis. Rogers’s easy to understand analysis is similar to the late great Economist, Milton Friedman. We need Jim Rogers in Washington as Treasury Secretary.
What Jim Rogers says makes me think. He cut through the BS to point out the systemic risk is in the government debt. In other words it’s the governments themselves, the same people who are making a hoopla over preventing problems, how ironic.
I might add the other guys are seriously annoying. What snots.
Mr. Rogers has a big picture, long term, fundamental and common sense approach that I have observed for 40 years. If I listen to anyone concerning markets, it’s Mr. Rogers. Period!