Posted on 02/15/2016 10:38:56 AM PST by upchuck
Note, original title shortened to fit: Famed investor Jim Rogers is warning that financial Armageddon is just around the corner, and it's being fueled by moronic central bankers
"We're all going to pay a horrible price for the incompetence of these central bankers," he said Monday in a TV interview with CNNMoney's Nina dos Santos. "We got a bunch of academics and bureaucrats who don't have a clue what they're doing."
The Singapore-based American investor said central bankers are doing everything they can to prop up financial markets, but it's all for naught. He predicts their unconventional monetary strategies will lead to a stock market rally in the near future, but deep trouble later this year and into 2017.
"This is going to be a disaster in the end," he said. "You should be very worried and you should be prepared."
Central bankers around the world have been increasingly using negative interest rates to prop up inflation and support their economies, but Rogers said the moves aren't working. He said they are simply trying to rescue stock markets and help brokers keep their Lamborghinis.
"The mistake they're making is, they've got to let the markets sort themselves out," he said.
"It's been over seven years since we've had a decent correction in the American stock market. That's not normal ... Markets are supposed to correct. We're supposed to have economic slowdowns. That's the way the world has always worked. But these guys think they're smarter than the market. They're not."
(Excerpt) Read more at money.cnn.com ...
I wonder what the DOW would be if we could get four to five percent on our money?
“How does one âprepareâ for such a calamity?”
Feel the Bern. /s
Britain--and London in particular--could be vulnerable in relation to house prices. 'Property prices particularly in some bigger places like London, Sydney and Paris would be deemed on the rich side.' 'I would consider all of these financial and real assets where they have risen to historically high levels, to be vulnerable.' At the very least he expects the world to 'hunker down'.
Jim Rogers is a genius. He absolutely nailed the bottom in commodities years ago, before one of the biggest run ups in history.
They were up 200 this morning. Only up 14 now. 6:30 pm est.
Not a good trend. Thanks for the update.
I’m usually not one to get too nervous, but with all that’s going on, I am now. Political, financial, militarily, etc.
Just remember, whenever everyone thinks it’s going to go one way, it usually doesn’t.
Except that one time when it does. Ha ha.
It will be okay.
When we were kids my Dad told us many times that things will never be as bad as we imagine they will be. He was right.
Feudal - like lords over serfs, the major elite families and their oligarch underlings. Authoritarian as in little or no individuality or free will and the vast majority of life’s daily passage dictated by the edicts of the lords bureaucratic regulators.
Technocracy - society presided over and monitored by high tech. Pretty much every detail of your life invaded by cameras, monitors, listening devices etc... Your TV, refrigerator, heating and AC systems, smoke alarm, phone, watch, electric meter et. al. able to provide the information and feedback so you can be managed like a good asset (which some claim we actually already are vie birth certificate securitization).
When you exceed the mandated parameters you get fined, fee’d and/or counciled.
You ever see the “Georgia Guidestones”? Google them and check it out.
Interestingly enough, all of these measures require consent, but very few people read the fine print or dig into the law behind stuff. Strong religious angle to that consent issue as I’ve read material...
You know, I’ve used technocracy in terms of the impending near omnipotence of the technological aspect of managing the assets known as people, but I do believe you have the actual book definition on hand there. Thanks for following up!
I went to a mall last night that I haven't been to in quite a while - outside of Portland, OR...a nice suburb.
It was practically Heathrow. Bunches of muslim women, foreign looking men, some of them with what I thought were predatory looks on their faces, foreign languages of various types...
All I could think was people have been imported who have NO loyalty to what it has meant to be an American. We are being dissolved.
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