Posted on 01/18/2010 8:10:50 PM PST by Comrade Brother Abu Bubba
Legendary investor Jim Rogers remains bullish on commodities and says the world will soon face food shortages.
"The fundamentals (for agriculture) have gotten better," he says.
"The inventories are now at the lowest they've been in decades, not in years.”
And that trend is just intensifying, Rogers tells CNBC.
“ Things are getting worse. Many farmers can’t get loans to buy fertilizer now, even though we have big shortages developing "
And what will be the end result of this dynamic?
"Sometime in the next few years we're going to have very serious shortages of food everywhere in the world, and prices are going to go through the roof," Rogers said.
Agriculture is his favorite sector in the commodity space, but Rogers likes other commodities as well.
Take oil, for example.
“Over the next decade or so, oil is going to go much higher, because known reserves of oil are declining at a very rapid rate,” Rogers said.
He also favors gold for the long term, saying that if it drops $200 an ounce, he’ll buy more.
But if you’re looking for precious metals to acquire now, Rogers recommends silver or palladium, because they haven’t soared as high as gold.
Many experts share Rogers’ bullishness on commodities.
Goldman Sachs, for example, sees the S&P GSCI Enhanced Total Return Index appreciating 17.5 percent this year.
“Demand is growing on a global basis,” Peter Sorrentino, a money manager at Huntington Asset Advisors, told Bloomberg.
LOL
Oh man...welcome to the 5th month of 2013. Tick Tock. Keep hoping though! Whatever you do, don't renounce your idiocy now!
LOL. You are the most persistent person I have ever encountered on FR. Persistence is an important trait to have. Show me a successful person, and you will also be showing me a persistent person.
http://www.rigzone.com/news/oil_gas/a/126606/Five_US_States_Help_Boost_US_Oil_Production
Onshore U.S. oil production **INCREASED** 64% between 2010 and 2013.
Yes, all well and good.
Why don’t you do something constructive like bash Obama instead and his refusal (while opting for Obamacare) to adopt a strategy to convert the diesel fueled tractor trailers to natural gas which would lower the price of gasoline for your Corvette?
How do you like the “low” price of gasoline, btw?
Or Obama’s refusal to sign legislation which would enable the Keystone pipeline?
As far as the food issue goes,
dumping NPK into worn out row crop fields is a dead end.
You have to decentralize and have 30 million farmers growing food on their 1/4 to 3 acre plots.
Agreed.
“In 2012 - 2013, Oil will be selling for $200-300/Bbls.”
Funny stuff!
“dumping NPK into worn out row crop fields is a dead end.”
Do you have any idea what amount of increase crop yields have been on!?
We had day after day of 100 degree weather here in Iowa last year. after that, some areas were pulling out 180 bushels per acre at harvest. That is an astounding acheivement!!
I’ve heard Iowa’s soil is amazing. My brother used to live there and told of the strange valuation of cropland vs developed land because it was so valuable for growing crops.
CAPITAL LETTER SHORTAGE COMING AS BLOGGERS BLOG!
Well, for one thing because *you* bashed Alabama after making your ridiculous $300/barrel oil prediction.
Why on Earth would I let you off the hook for your utter lack of education and dearth of common sense after you were militant about oil booming up to "$300 barrel"?!
For another reason because you never renounced your $300 oil prediction. You've had years. That still isn't enough time for you to learn humility and regret.
For yet another reason because you never apologized...not for giving awful investment advice...not for needlessly frightening people with visions of unaffordable oil...not for name-calling...not for being silent for years hoping that the oil markets would somehow save your idiotic prediction, etc.
No, contrary to 0bama...you own your $300 2013 oil prediction...and I'm going to keep reminding you of it. My reasons for continuing are listed above.
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Understand?!
My goodness. One of us must have a problem understanding...
Well, now it is June in 2013. Coming up on the middle of the year and U.S. oil is under $92/Bbls.
Call me if a SINGLE PERSON IN THE ENTIRE WORLD will agree to publicly back your idiotic claim of $300 oil above.
7 billion people on this planet...none of them dumb enough to agree with *you*.
U.S. crude-oil production grew by more than one million barrels a day last year, the largest increase in the world and the largest in U.S. history.
http://www.freerepublic.com/focus/f-news/3030916/posts
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Well, we are now in the last half of 2013 with oil still in double, not triple, digits...and you still haven't renounced your idiotic prediction.
Tick, tock.
U.S. Oil Exports in 18 months to 3 years says Bloomberg: http://www.bloomberg.com/news/2013-06-18/americans-exporting-more-oil-first-time-since-70s.html
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Today marks the beginning of the 3rd Quarter of 2013, and not a person on the entire Internet is dumb-enough to agree with you on the price of oil.
How does it feel to walk into a DMV to get an auto tag and be the dumbest person in the building?
Oh well...someone has to be that guy.
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Good thing you weren't concerned about the "short term" since oil didn't go as you predicted.
At $107/barrel today, oil would only have to about double in price in the last Quarter of this year to hit your prediction for last year of $200/barrel, or triple in less than 4 months to hit your 2013 price prediction of $300/barrel.
...and you said some really nasty things about Alabama and myself for daring to doubt you.
Well, your tough talk from back then probably hasn't won you any supporters today.
I doubt that you can find a single idiot on the entire Internet willing to put their real-world name behind their support of your above oil price prediction.
Which is to say, you are the dumbest poster on the entire Internet, though some numbskull who posted last night that talking about the physical distance of the port of Sevastopol from Syria meant that you were talking about "feelings" comes a close second to your above oil price prediction idiocy.
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