Skip to comments.Jim Rogers: It's Going To Get Really "Bad After The Next Election"
Posted on 10/15/2012 2:08:13 AM PDT by bruinbirdman
In a riveting interview on CNBC, legendary investor Jim Rogers warned Americans to prepare for "Financial Armageddon," saying he fully expects the economy to implode after the U.S. election.
Rogers, who for years has been an outspoken critic of the Feds policies of "Quantitative Easing," says the world is "drowning in too much debt." He put the blame squarely on U.S. and European governments for abusing their "license to print money." In the U.S. alone, the national debt has surged to nearly $16 trillion, that's more than $50,000 for every American man, woman and child.
"[They] need to stop spending money they don't have," Rogers said. "The solution to too much debt is not more debt... What would make me very excited is if a few people [in the government] went bankrupt..." Rogers added.
Rogers also charged Obama and German Chancellor Angela Merkel with promoting dangerous policies that create the illusion the economy is stable... but are really only intended to buy time before their upcoming elections.
"Mrs. Merkle has an election next year," Rogers said. "Mr. Obama has an election in November. The Americans and the Germans - they want to do everything they can to hold the world up until after the next election."
"It's going to be bad after the next election."
How bad? Worse than Rogers predicts, according to a new investigation.
In a newly released documentary that went viral last month, a team of influential economic experts say they have discovered a "frightening pattern" they believe points to a massive economic catastrophe unlike anything ever seen in the history of the world.
(Excerpt) Read more at moneymorning.com ...
Johnnie come late. We knew this a long time ago
He endorsed Ron Paul in 2008.
It better hurry up! Only 3 weeks to go.
"He endorsed Ron Paul in 2008."
Ron Paul got his Gold Committee into the GOP platform. Rogers would like to see a gold standard.
They will throw their silver into the streets, and their gold will be an unclean thing. Their silver and gold will not be able to save them in the day of the LORD’s wrath. They will not satisfy their hunger or fill their stomachs with it, for it has made them stumble into sin.
I don’t trust men who wear bow ties
the catastrophe may happen well before Americans hit the polls in November....It could well HAVE happened. Who is going to tell us? ABC, NBC MSNBC?
a massive economic catastrophe unlike anything ever seen in the history of the world.
so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name. This calls for wisdom. If anyone has insight, let him calculate the number of the beast, for it is man’s number. His number is 666. Revelation 13:17, 18
well, the problem about all of these “unlike anything ever seen in the history of the world.” is that it is humbug - it’s happened in the past and will happen again. The collapse of the Roman currency under debasement, Chinese imperial monetary collapses, right down to the Weimar hyperinflation — it’s happened before.
Hell I'd settle for a GDP standard. (GDP above 3% you can expand the money supply, below you have to shrink it.) Except then they'd just fudge the number.
But see the problem is we have "no standard" right now. Just print till you run out of ink, them make more and start again!
So a so-called "massive economic catastrophe unlike anything ever seen in the history of the world" will barely make a dent in the unshakeable cohesion of this wonderfull one world village.Onwards and upwards!
Do I really need it?
I’m buying as much ammo as I can afford. The new gold I’m not kidding.
I’m buying as much ammo as I can afford. The new gold I’m not kidding.
I second that — bullets have far more value than a gold coin!
Another warning of impending doom that says you must prepare immediately. Then no information in the article about how to repair.
Assuming Romney wins, he will get the blame, even though he haa zero to do with it.
I forgot to add. If Obumbo wins, the economy will be Bush’s fault.
If more of us could move to Singapore we would, and should
Rogers saw armageddon coming a long time ago and walked the walk, especially after his children were born
What do you know about his “wealth” and what say do you have in how he invests it? If I could live in Singapore, immerse my children in learning Chinese as the future world economic engine, and buy up farmland all over the world, I would too
Don't let the door......
Well, we’re on a PhD standard. And those guys are smart. Really, really smart.
Did I say those guys are smart?
I’ve never been a glass-half-full kind of person, but I take issue with the doom saying.
I’m a business owner in the private sector, and I’m suffering, but we’ve survived what amounts to the greatest government assault on capitalism this country has seen since FDR.
Capitalism is very, very, resilient. It must seem like a weed, impervious to weed killer, by Obama and his minions.
Romney’s election will be a huge mental lift to those of us who have been working double time, cutting expenses and positioning ourselves for what I see as the inevitable resurgence.
Romney for example, has promised to neuter Obamacare, open the vast energy potential our country possesses, and deal with Dodd-Frank. We in the private sector do not wait to seize opportunities, we think long term, and therefore you will see some immediate investment and un-shackling of credit.
Admittedly, there’s a lot of debt, but there are a lot of revenues to be had with the growth that will come with Obama’s exit. It’s not a structural thing, it’s a psychological phenomenon that will be unleashed.
I have some commercial real-estate I’ve been trying to sell for four years. I’ve had more interest in these properties in the last two weeks than in all the years they’ve been for sale. The stupid people will wait until things get good to make a move, the smart ones are already coming out of the woodwork, and there are a lot of smart people in the private sector who know that if they don’t move now someone else will.
You are right. We are already building a new house and bought the lot last June. These democraps can not keep us down for long.
Share your optomistic perspective based long-term negative market sentiment frustrating capital formation. Decision makers suffering from opaque view of the future have retrenched long enough. Romney’s leadership will be pro growth agenda will launch an explosive economic boom.
Beware of bow tie wearing “experts” on anything.
That would be new.
I read this a few days ago and then followed the link to the economists...it is just a commercial.
>> Then no information in the article about how to repair.
For the detailed formulas, you have to click on a link that takes you to another page that shows you a video &etc.
Don’t have time to follow the breadcrumbs, but I’m fairly certain that at the end of this rainbow is something or other that involves paying them money.
I mean, what the heck, if you and you alone have the secret details of TEOTWAWKI, are YOU gonna give it away for free? :-)
I think I’ll pass though.
Idols are made of gold and silver. People will see that their pagan idols cannot stand against God.
So you're planning on going undefeated for years for basic necessities. You'll only last until your first defeat.
How will that help you against hyperinflation?
So did Rogers, he's been saying the same thing for a long time.
Also, if the financial world gets hit, this won't hit the interior economies of India or parts of Africa - they are insulated or rather isolated from the world
PhD as in "Piled High and Deep"?
Well, if the new house does not sell, we will rent it out. The rental market in the DC suburbs is hot.
“Then no information in the article about how to repair.”
How do you repair Armageddon?
I dont trust men who wear bow ties
Or lives in Singapore in order to avoid US taxes.....
Currently, an ounce of gold will buy more ammo than you can carry by a factor of 6-10 (depending on your strength, fitness, and other necessary loading).
Specifically, Ammoman.com will sell you 1,000 rnds of .308/7.62X51 sealed in 200rnd battle packs for $589. You can currently trade an ounce of gold for about 3,000 rnds of this ammo.
If you'd like, you could assume that gold will lose 90% of it's current value relative to ammo, and you'd still be way better off toting that 1 ounce coin hidden between the cheeks of your butt than the extra 300 rounds of ammo.
Yep. We’ve already struck the iceberg and it was a big one.
Rogers is a sharp financier, but if you stop to think about how he operates, it is mostly common sense.
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Exactly right. :^) Not only that, but when the financial disaster strikes, enclaves should have the ability to get through by starting mini-economies. It's going to take currency to restart, gold is the best way to store value as you say, and then trade with other enclaves.
Rogers is a sharp financier, but if you stop to think about how he operates, it is mostly common sense.>>>>>>>>>>>>>>>>>>>>>>>>>
Agreed, there is so little common sense these days, its hard for many to recognize it.
I have my investments all in real estate holdiongs these days as of last March. I do a lot of gardening instead of trading, but in a few years it will be time to jump back in.
But like Rogers, I thinkl it will get very bad. This will be the end of the liberal socialist state.There just won’t be enough money to finance it, and the parasites will have eaten themselves out of a home.Thereafter the entrepreneur MAY make a comeback, unless we are living in a totalitarian state.
I visited a vendor who paints oilfield equipment, trucks, etc. His normally full yard was empty.
He remarked, “Everybody is going to wait until after the election to decide if they will invest again.”
That’s a cute little quote you put up there - but it stands. Here’s one you might like -
Study strategy over the years and achieve the spirit of the warrior. Today is victory over yourself of yesterday; tomorrow is your victory over lesser men. (Miyamoto Musashi)
That’s how I view most people in the world - from experience - multiple tours - and the idiot in office that won by a margin - when the collapse comes (if it comes at all) - I might be overwhelmed and defeated as you suggest - but it will cost those coming at me their lives in a great a number.
Free Republic has all kinds - it’s open opportunity here!