Jim Rogers Believes World Is Heading for Depression

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investorzzo's picture
investorzzo
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Jim Rogers Believes World Is Heading for Depression

 Great interview.

Rogers reiterates his disgust with the recent government economic
interventions, especially in London and Washington DC. He believes we
are making the same mistakes that were made in the 1930s, which led to
the Great Depression, and in Japan in the 1990s, which led to Japan's
"lost decade" of economic growth.

Some quick hits:

  • Rogers
    is bearish on the UK economy and the Pound Sterling, as he doesn't see
    what can fill the economic holes of the depletion of oil in the North
    Sea and London's imploding finance industry
  • Countries are starting to question whether they should lend money to the UK and US already
  • Capitalism
    and free markets did not fail - they weren't allowed to work by Central
    Banks, which wouldn't let people fail (starting with the bailout of
    Long Term Capital Management)
  • Farming will be one of the best industries in the world for the next decade or two
  • Debasing your own currency has never led to prosperity
  • We're
    seeing a gradual shift away from the US Dollar as the world's reserve
    currency, just as there was a slow move away from the Pound Sterling
    50-80 years ago
  • Printing money has never, ever worked

 http://seekingalpha.com/article/129135-jim-rogers-believes-world-is-heading-for-depression

Sandman3369's picture
Sandman3369
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Posts: 71
Re: Jim Rogers Believes World Is Heading for Depression

Smart guy... you'd think someone important would be listening to him...well...aside from us that is!

investorzzo's picture
investorzzo
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Re: Jim Rogers Believes World Is Heading for Depression

Another smart guy. Gerald Celente.

http://www.youtube.com/watch?v=aaSKJ75EMoc 

strabes's picture
strabes
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Re: Jim Rogers Believes World Is Heading for Depression
sandman wrote:

 Smart guy... you'd think someone important would be listening to him

It seems so easy.  If the policy wonks would only listen to smart folks like Rogers we'd all be fine right? Why don't we just send them an email linked to Rogers' videos?  I mean how do all these "important" people not know what's so obvious to all of us?

I'm hoping people take time to consider this, because it's a GREAT example of what's really going on with the excessive bubbles and this crash and the government's response to them.  It has nothing to do with government trying to find the right policy mix and, gee if they'd only overhear one of Rogers' videos they'd get everything right for all americans.  What's really happening is those "important" people are doing what's in their interest. This is the Wall St / DC system continuing to prop itself up on the backs of the masses (in you're thinking I'm a nut, Rogers says the same thing, not to mention the data itself proves it).  These people aren't listening to a guy like Rogers because they'd go broke and lose their privileged positions...they want people like Rogers to shut their mouths so the masses will stay stupid and listen to guys like Geithner, Bernanke, Rubin, Paulson.

A lot of people want to believe that government is good and truly serves us and this whole thing is just an innocent result of economists and politicians just not being smart enough to do the simple things Jim Rogers recommends.  On the contrary...these economists and politicians (like ex-Goldman CEOs) know precisely what they're doing...they may think they're doing the right thing, but that's because their world is Wall St.  If they did what Rogers recommended, they'd all lose everything, the system would collapse, and they'd lose the privileged Wall St / DC club that has been structured against the masses for decades.   

 

Sandman3369's picture
Sandman3369
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Posts: 71
Re: Jim Rogers Believes World Is Heading for Depression

   I completely agree with both of you.  I just think you're a nut, strabes (muffled giggle).  It is fairly obvious to all us normal folk that things aren't good, and that something is fishy.  To be honest, if I didn't work with a few guys who were nearing retirement, I probably wouldn't even have started to delve into all the obfuscated reasons behind this mess.

   Most of my friends plain just don't think about this stuff.  I think that's why 'they' keep getting away with it.  The vast majority of people don't know or are not inclined to find out about these things until something goes seriously wrong.   When you're just busy trying to get a job, get laid or get drunk (not necessarily in that order), you're not thinking about the economy!  Could it be that our fearless leaders are just doing the same?

   A final note; I wish I could point you to another smart guy, but I'll just have to leave you with a group of them...

   Check out the lyrics to Nevermore - The Politics of Ecstasy, since I don't know you, fair warning the music is fast and heavy! 

SamLinder's picture
SamLinder
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Posts: 1499
Re: Jim Rogers Believes World Is Heading for Depression
strabes wrote:
sandman wrote:

Smart guy... you'd think someone important would be listening to him

It seems so easy.  If the policy wonks would only listen to smart folks like Rogers we'd all be fine right? Why don't we just send them an email linked to Rogers' videos?  I mean how do all these "important" people not know what's so obvious to all of us?

I'm hoping people take time to consider this, because it's a GREAT example of what's really going on with the excessive bubbles and this crash and the government's response to them.  It has nothing to do with government trying to find the right policy mix and, gee if they'd only overhear one of Rogers' videos they'd get everything right for all americans.  What's really happening is those "important" people are doing what's in their interest. This is the Wall St / DC system continuing to prop itself up on the backs of the masses (in you're thinking I'm a nut, Rogers says the same thing, not to mention the data itself proves it).  These people aren't listening to a guy like Rogers because they'd go broke and lose their privileged positions...they want people like Rogers to shut their mouths so the masses will stay stupid and listen to guys like Geithner, Bernanke, Rubin, Paulson.

A lot of people want to believe that government is good and truly serves us and this whole thing is just an innocent result of economists and politicians just not being smart enough to do the simple things Jim Rogers recommends.  On the contrary...these economists and politicians (like ex-Goldman CEOs) know precisely what they're doing...they may think they're doing the right thing, but that's because their world is Wall St.  If they did what Rogers recommended, they'd all lose everything, the system would collapse, and they'd lose the privileged Wall St / DC club that has been structured against the masses for decades.

Strabes,

You're right on target. It's been bugging me too and I guess I just didn't want to accept what was staring me in the face. Now that you have articulated it clearly, it is so, so obvious!

Now the real problem: How do we wrench our republic back from these fools? Everyone in Washington, DC (Executive, Legislative, Judicial) has been co-opted by the banksters. They live on a different planet than the rest of us.

As painful as it will be, I hope the system crashes under its own weight - it's the only way these Wall Street scum will be forced to let go and then maybe we can get our country back.

Sandman3369's picture
Sandman3369
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Joined: Dec 20 2008
Posts: 71
Re: Jim Rogers Believes World Is Heading for Depression

I think it is unfortunate, undesirable and inevitable that violence will ensue.  Hopefully, myself and my own will be able to stay out of the way for the most part.

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