Posted on 11/10/2012 7:27:01 AM PST by ExxonPatrolUs
Investor Jim Rogers tells CNN to expect choppy investment waters in the years to come. "I would be very careful. The next couple years we're going to have turmoil and problems in most financial markets," Rogers told CNN's Andrew Stevens. "Don't invest in anything unless you, yourself know about it. Don't listen to some guy you see on TV -- even if it's me," added Rogers, who co-founded the Quantum Fund with George Soros. "You only stay with what you know and if all you know is money in the bank, put the money in the bank." With worried investors and a re-elected U.S. President, Rogers said he doubts much is set to change as the U.S. Congress faces impasse on the ominous 'fiscal cliff', the December 31 deadline of automatic spending cuts and tax increases that threatens to send the American economy into recession. "We have the same president, the same Senate, the same House, the same central bank, the same everything. There's not going to be much change. They're all going to fumble around and grapple with it," Rogers said, "But in the end, they're going to make mistakes -- you and I, and everybody else in the world are going to be worse off. The debt is going to go higher, the spending is going to go higher and they are going to make mistakes."
(Excerpt) Read more at edition.cnn.com ...
I’ve got my money under the mattress, a stockpile of food, some kerosene lamps and a stack of books, and my rifle. I’m ready to ride ‘er out!
“they are going to make mistakes”
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More like self-serving decisions and blunders.
Cutting the budget deficit from 1.3 trillion to 1 trillion will trigger a recession. This is insanity.
If investors are still in the market now, they are obviously careless with their money. They should go to Vegas where they can be entertained while they lose their money.
Can we believe anyone?
I met him at a motorcyle rally when Clinton was in. He said Clinton would guarentee we would would never have another Dem pres. One of my freinds ask about a particular investment. He told him he couldn’t answere because anything he said could drastically effect the marker. Nice guy, but full of himself.
If we don’t and inflation hits overnight, you’re screwed anyway. The value of money is manipulated. It can disappear overnight.
You know, when the economic “chickens” come home to roost, Obama’s gonna get on tv with his trusty prompter and lecture the economic forecasters and blame them for “scaring people”; and, of course, there’s always the “evil Bush”. Marxists never run out of scapegoats.
Proverbs 23:4,5 Do not weary yourself to gain wealth, Cease from your consideration of it.
5 When you set your eyes on it, it is gone. For wealth certainly makes itself wings Like an eagle that flies toward the heavens.
Most people I know are not savvy investors. Most of them are just blind buy-and-hold and dollar-cost-average investors.
They are all thrilled with the stock market gains they have gotten since March 2009, with the market having gained back all it’s losses from the 2008 market crash.
They have no clue why the market crashed. They have no clue how QEx was used to pump the market up to get Obama re-elected.
They are all blind buy-and-hold types. They don’t know enough about investing to even be considered gamblers.
My ears were burning and I tracked it down to this post. I suppose I am supposed to turn my money over to some financial adviser who can lose money just as good as I can.
Looks like the debt picture got better after 1933.
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