Posted on 08/21/2008 2:29:33 AM PDT by TigerLikesRooster
Tuesday, August 19th, 2008
Exclusive Interview: Jim Rogers Predicts Bigger Financial Shocks Loom, Fueling a Malaise That May Last for Years
[The First of Two Parts.]
Keith Fitz-Gerald
Investment Director
Money Morning/The Money Map Report
VANCOUVER, B.C. – The U.S. financial crisis has cut so deep – and the government has taken on so much debt in misguided attempts to bail out such companies as Fannie Mae (FNM) and Freddie Mac (FRE) – that even larger financial shocks are still to come, global investing guru Jim Rogers said in an exclusive interview with Money Morning.
Indeed, the U.S. financial debacle is now so ingrained – and a so-called “Super Crash” so likely – that most Americans alive today won’t be around by the time the last of this credit-market mess is finally cleared away – if it ever is, Rogers said.
The end of this crisis “is a long way away,” Rogers said. “In fact, it may not be in our lifetimes.”
During a 40-minute interview during a wealth-management conference in this West Coast Canadian city last month, Rogers also said that:
(Excerpt) Read more at moneymorning.com ...
Ping!
Doom and gloom are everywhere.
Most of it caused by the government over the last four decades.
And has one single government employee been fired for it?
How do you hold a government accountable?
By voting it out and voting in a candidate who will clean it out in the manner of Hercules cleaning out the Augean stables. Sadly, despite everything that has gone on, the electorate still seems intent on keeping us saddled with the current pile of horse crap on both ends of Pennsylvania Ave.
Amen to that.
And has one single government employee been fired for it?
How do you hold a government accountable?
Uh, by voting?
I had never been a believer in the “throw all the bums out” scenario, as I thought it highly unlikely to have a possibility of working. So I have always taken the easy road of the “lesser of two evils”. If it is not apparent to everyone yet, it sure ought to be, or will be soon...it is not a stretch of the imagination to conclude that whether they have a (D) or an (R) after their names, they are all in “public service” for the sole purpose of self-enrichment, the nation be damned. Maybe I should qualify “all” to 98%, there may yet be a few decent ones.
The “Gang of 535” fiddle-f**** around, enriching themselves, looting the treasury and taxpayer to protect and bail out the varied interests that line their pockets.
In case anyone missed it, Ben Bernanke said recently that the Fed Discount Window or “begging bowl” will now be opened to “non-US entities” to come dump their toxic waste that is called collateral, for US dollars. As the Euro nations are now ahead in the race to the financial bottom, the European Central Bank (ECB) has no facility of the sort that the Fed has with the “begging bowl”. So, it appears that Uncle Sam is going to have to save the Europeans asses........again.
Further in the article he states:
Rogers first made a name for himself with The Quantum Fund, a hedge fund that’s often described as the first real global investment fund, which he and partner George Soros founded in 1970. Over the next decade, Quantum gained 4,200%, while the Standard & Poor’s 500 Index climbed about 50%.
Soros??? Enough said...
The current electorate has no clue what is going on. They don’t understand finance, they don’t understand banking, and they don’t understand the effects of different choices. This is how the average US citizen got into such a deep state of debt they’re in.
In short, the vast majority of voters are ignorant of finance and the implications of current events. Not a little ignorant. We’re talking “cavemen looking at a moonshot” ignorant: they’re just going to stand there, looking up into the sky with their mouth agape.
The Congress is also ignorant. There’s not more than a half-dozen people in Congress that can claim to understand what is going on now, and those who have a good gut-check reaction to the proposed bail-outs (eg, Jim Bunning), are ridiculed by people up and down Wall Street.
The real problem here is that there are no real penalties for the bankers and fund managers on Wall Street who have created the problems that have led us to this end. The Congress should be inflicting real and substantial penalties upon people like Thain, Prince, Fuld, etc.
We should be talking about possible death penalties for the current and past directors/management of Fannie/Freddie.
Once this is done, we’d see some more circumspect behavior out of bankers. If they want the government to bail them out, then they have to accept the consequences that go with it.
You know they will come out with a talking point, "Such a populist witch hunting will spook the market to the extent that no real recovery is possible for the long time. That is Great Depression II."
They are effectively saying that unless they got off scot-free, we will be in a deep depression for a long long time. These guys want to have it both ways.
I find it hard to believe.
Every more reliable Christian prophetic source I know of says something similar.
Reportedly FAR WORSE than the 1920’s and lasting through WWIII until Jesus returns.
I don't know if Rogers is in for big payout from crash. However, I do agree with him that we have a disaster coming.
If Jim Rogers is talking publicly about a really big market crash coming, you can safely bet your life-savings that he's short the market. That's the way he rolls...he always talks his book.
Naw.
It’s been deliberately engineered. They are intent on crashing the USA to make setting up the global government easier.
Check out even one quote of our political and other leaders since 1900 per screen at post #76
here:
http://www.freerepublic.com/focus/news/2031425/posts?page=77#77
Please check out the post in my tagline.
Soros is evil evil evil
And well connected.
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