Posted on 01/24/2009 7:38:14 PM PST by sickoflibs
“If you go back in history whenever we have had periods of forced liquidation like we are having now, periods that only have happened nine or ten times every 100 or 150 years, people have had to sell everything without regards to the fundamentals. The way you make money historically in times like this is you find the fundamentals that are unimpaired and that’s what you buy.”
“The fundamentals of General Motors are impaired. The fundamentals of City Bank are impaired by what is happening. The fundamentals of most industries of the world are very impaired. The only thing I know where the fundamentals are not impaired, but are enhanced, are commodities, coming out of this. Things are so bad that some farmers can’t get loans for fertilizer. No one can a loan to get a new mine. Mines are closing, farmers are suffering. So the fundamentals of commodities are actually getting better because the supply is under terrible pressure when the world is going to continue to eat and everything else. The best place to be invested now is commodities, China, the Yen and commodities. Commodities have been in a bull market since 1998, 1999. The bull market was caused by supply and demand being terribly out of balance In the 80s and 90s there was very little money invested in productive capacity for any commodities; Think about all the great oil field in the world. They were discovered more than 40 years ago. The UK has been exporting oil for 26 years, within the decade the UK will be importing oil. The US is in serious trouble; the UK is in worse trouble. The UK has nothing to sell. Once the North Sea Oil dries up the UK will be in much, much worse shape. “
“The international energy agency has come out with a report showing that the world’s oil reserves are declining at a rate of 6.7 % per year even after discoveries. You can do the arithmetic, in 15 years there will not be any oil at any price unless something dramatic changes. … the facts are all the world oil reserves are in serious decline. This is true of all commodities you are going to see huge supply problems, the worlds inventories of food are the lowest they have been in 50 years. We have a shortage of fertilizer, we have a shortage of tractors, and we have a shortage of farmers… .” Full video at Jim Rogers on the Asian Financial Forum pt 1/2 Jan 21 2009 and Jim Rogers on the Asian Financial Forum pt 2/2 Jan 21 2009
Oil will still be available? Tell Jim he was wrong. LOL!
“The international energy agency has come out with a report showing that the world’s oil reserves are declining at a rate of 6.7 % per year even after discoveries. You can do the arithmetic, in 15 years there will not be any oil at any price unless something dramatic changes"
Yes, millions of us might be starving to death in 20 years, but on the bright side, bailed out banks are buying private corporate jets... /sarcasm
I feel like everyone, both parties, the media, the investment advisors are all lying to us about the value of government massive debt based action. Like in 1973 Soylent Green
:^(
By actual count on this thread, 1/2 of Freepers understand discounted cash flow.
Thanks for the ping. I learn a lot on these threads. This is the first time I’ve heard of Jim Rogers.
Smart guy, but he needs to see his doc for a physical. He gets out of breath when he talks and I don’t think he is the anxious type.
I believe the Four Horsemen of the Apocalypse are about to be unleashed.
reference ping
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