Posted on 10/17/2009 11:38:54 AM PDT by blam
Jim Rogers On The Next Ten Years
By Heather Bell
October 17,2009
I’m moving to China … possibly to live in a bunker. At least that was my inclination after listening to a presentation by Jim Rogers Thursday.
Now don’t get me wrong―Mr. Commodities wasn’t all doom and gloom. In fact, his talk was both informative and highly entertaining. But Rogers doesn’t sugarcoat things―he’s very matter-of-fact about his concerns and projections for the future. And most of them don’t bode well for the U.S.
I’ll be posting an interview with Jim Rogers on the site in the coming week, but for now, I just wanted to offer some highlights from his speech at ETF Securities' mini-conference and the Q&A that followed.
[snip]
Michael Pettis
October 16, 2009
The release of September trade data earlier this week was pretty interesting, although because of two or three extra working days last month, plus the very big holiday at the beginning of October which might have pushed activity into September, some of the comparisons are misleading. Exports were down 15.2% year-on-year, better than the expected 20-21%. Imports were down 3.5%, much better than the expected 15%. Month-on-month figures showed a rise in both imports and exports.
So much ink has been spilled in discussing these numbers that I won’t try to summarize, but it is worth noting that for many analysts the numbers were a very positive surprise. Typical was this Reuters report reprinted in the New York Times:
China reported surprisingly strong trade figures on Wednesday, providing fresh evidence that the world’s third-largest economy is firmly on the path to recovery and that global demand is improving too.
…Brian Jackson, an economist at Royal Bank of Canada in Hong Kong, said the slower pace of decline was good news for China’s recovery because growth this year has depended too much on the government’s 4 trillion yuan ($585 billion) stimulus package.
But even in this article there were hints that the numbers, especially the import numbers, might not be as positive as expected.
[snip]
China
Blah Blah
China is great
Blah Blah
China is Supreme
Blah Blah
Get surgery to change your eye shape now
Teach your kid Mandarin
Cut your hair in a bowl and paint it black
China China China China BLAH BLAH
The guy needs to be stripped of his citizenship and deported to the Commie Wonderville of His Dreams: China
Very interesting... so will ‘seeds’ for farming be the next bubble?
Blam,
What are your PERSONAL . . . speculations . . . expectations
over the next 4-6 months . . . re life in the USA?
Baraq is indebting us to China at a fearsome rate.
After we vote him out, America will reinvigorate capitalism.
And produce a lot of profits for our new owners.
But he lives in Singapore not Redistan.
We can only hope.
Do folks ask: how did we get here? or, What do we do now? or how do we reverse our fortunes?. No. Instead, they the messanger and stick their ostrich brains further in their holes. It is sad.
And how do you propose that we do that? First we have to run the current legal, financial and regulatory elites out of town on a rail, having tarred and feathered them. Instead of attacking the real problems, however, we focus on the symptom, 0.
Mainland and island Hong Kong aren't that bad.
Beijing, then a bunker may be appropriate prudence.
China’s one child policy, which has been in effect for about 30 years, will result increasingly in a population that is disproportionately male, disproportionately old and probably quite angry as well when young to middle aged men find they can’t get wives. I know Beijing has made a lot of progress; whether they’ll have the people who can enjoy it instead of working to pay others’ old age pensions is highly questionable.
Well since you know it all, do telll US the answers to your questions.
"over the next 4-6 months . . . re life in the USA?
I expect things to get worse...worse could be hurried by something shocking like:
(1) Israel attacking Iran, oil/energy problems
(2) A sizeable terrorist attack on the US
...these sorts of things.
I'm a pessimist and have prepared for the worst possible cases. (Yes, I am a survivalist type and will survive most anything)
The fact that he lives there rather than an amicable State in the U.S. tells you all you need to know about this self absorbed traitor. He made his fortune in America under American rules....and then leaves. He's a man without a country, a zero who's nothing without his bank account.
So to Jimmy I say, Well...Bye.
Did you bale hay as a young’un?
I know the dif.
Oh, got it.
We'uns is just the iggorant unwashed backwoods trash, a buncha dumb Rednecks who cain't even pernounce Kwant-um, right?
Nice to see a Madison Avenue DU'er here. We do so miss your sniffing imperiousness and superiority.
Yup.
Picked cotton, grew and harvested watermellons and my dad managed a dairy.
I'm a retired chip-maker (no, not potato chips)
Why?
The same way economies always collapse. They believe that speculation in financial instruments is the path towards generation of wealth rather than ruin.
Those are two things topping my list, too.
Though it was interesting to see the thread about Israel to attack Iran AFTER Dec. . . . which could be disinfo, of course.
Was glad the predictions re last week did not come true. Not sure what that was about . . . Jihadi’s get delayed . . . what . . .
I hope you’re not in the Eastern USA nor near the New Madrid faults.
BTW, what percentage of your extended family are awake and understand the true realities we face?
And how do those who aren’t relate to you about such stuff?
FAR TOO TRUE.
WHY IS THAT?
AMONGST
CONSERVATIVES???
EVEN CONSERVATIVE CHRISTIANS WHO BELIEVE IN THE END TIMES????
Mystifying.
I love HK . . . though the frenetic dog eat dog greed there is a bit much.
I'm on the rural coastal plains around Mobile, Alabama
"BTW, what percentage of your extended family are awake and understand the true realities we face?"
One or two, none are prepared.
And how do those who aren’t relate to you about such stuff?"
Patronizing. I've made some preparations for them too.
But of course it was gambling and some of them borrowed the money to gamble. At the same time the vice was being place upon what it is that literally creates wealth, free flowing, free market 'oil'. These twisted evil dirtworshipers did everything they could possibly do to keep US from at least recouping our treasury when we and the willing returned old Saddam to his Maker.
Liberals have perverted a free market capitalist society into a slave market of capitalism.... Every time an 'ism' is applied it rots from the bottom up.
The US will bounce back. Midterm elections and 2012 will insure it.
Noble of you.
I trust, from looking at your pic, that you won’t take any irrational guff from the extended relatives who come hat in hand . . . they’d better durn well have the horse sense to listen to you and OBEY you THEN! Clueless idiots are a plague.
I hope you’re at least a few hundred feet above sea level.
That Canary Island thing is going to be a realllll . . .
soaker.
NOPE.
Toooooooooooo much trauma and devastation scheduled before then . . . probably even before Nov 2010.
'"...these source of a doctrine, news item, or any other statement carried more weight than the content of it; the feeling about the source preceded and determined the true believers reaction.' In other words, Dennis, Foster and the founders did not credit the overwhelming evidence of Stalin's crimes until an authoritative Soviet leader, Nikita Khrushchev, ruled that they were crimes." (p. 39)
"In Denial" by Haynes and Klehr,
I used to help with some hiring of engineers at a company I worked for. I finally told the boss to scrap the interview process and just ask one question, “How much hay have you baled?” If the answer was any significant quantity, just hire the guy. Anybody that can make a hay baler work and is willing to do it can do about anything.
I recommended a hiring bonus if he baled it with an AC Rotobaler.
Just, whoosh and one day Japan was gone. Japan? What is a Japan. Never heard of them. Here is economic tragedy for you, in charts, right before your eyes.
Just blew up they did. Gone with the wind.
It won't make it here. I've read recent science reports that it's been exagerated anyway.
Category 5 hurricanes are another thing though. Albeit, my 'supplies' are packed to withstand a direct hit.
Fixed.
As a twelve year-old I got 2 cents a bale. It gave me more than I could ever ask for later in life. It isn’t always the money but it sure as heck makes you appreciate long sleeves in a 140 degree barn. (And yes, after a week I got my train set). :^)
There’s a concrete dome prefab outfit in Florida that might be worth checking out.
I think it’s lightweight concrete.
Couldn’t imagine living in anything but concrete in your area! LOL.
Glad the Canary Islands thing is supposedly going to be less traumatic than some thought.
I’m a bit skeptical, however.
Then there’s the big meteor that some say is headed for the Atlantic.
Wheee.
Ever hear of the lost decade?
seekingalpha site seems to be down; http://www.lewrockwell.com/rogers-j/rogers-j44.1.html has a copy of the article up and running.
We moved to a rural suburb of Phoenix from Southern California a year ago. Purchased a beautiful home with good cinder block fences and clear fields of fire at 1,500 feet elevation and no risk of floods, fire, earthquakes, tornadoes, hurricanes, etc.
Paid for it in full, at a good price, and have stocked it with a new shotgun, ammo, and a year’s supply of beans and rice. Just don’t tell my relatives...
Indeed.
His advice is for everyone to move to the Orient because that will be the next new super-economy.
Excuse me?
From what I’ve been reading lately, the great economic boom in China has been mainly smoke-and-mirrors propped up by massive government spending.
There is going to be no true global economic recovery until we all return to a truly market-based economy.
LONG LIVE THE AUSTRIAN SCHOOL!!!!
bump
I trust you are referring to finances?
Well, just what are the alternatives and what do THEY have to offer?
Just the long work hours the fast pace the dog eat dog frenetic effort to always earn more money etc. etc. etc.
Everything in HK seems to worship money.
Financially it made Hong Kong the economic hub globally.
Go figure.
I think I missed that decade....
Who is Jim Rogers?
TRUE.
Still doesn’t make it wisdom.
It’s still idolatry.
It’s still a great hazard.
A hazard in the face of what?
Idolatry of anything but worshiping God Almighty is a hazard spiritually and to one’s eternal soul.
It also corrodes relationships to worship money that much.
Scripture says the LOVE OF money is the root of all evil.
Not a good thing.
If it's not to big, I'll survive it too. It's the Cosmic Winter that's really hard to prepare for though.
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