Posted on 10/17/2009 11:38:54 AM PDT by blam
Jim Rogers On The Next Ten Years
By Heather Bell
October 17,2009
I’m moving to China … possibly to live in a bunker. At least that was my inclination after listening to a presentation by Jim Rogers Thursday.
Now don’t get me wrong―Mr. Commodities wasn’t all doom and gloom. In fact, his talk was both informative and highly entertaining. But Rogers doesn’t sugarcoat things―he’s very matter-of-fact about his concerns and projections for the future. And most of them don’t bode well for the U.S.
I’ll be posting an interview with Jim Rogers on the site in the coming week, but for now, I just wanted to offer some highlights from his speech at ETF Securities' mini-conference and the Q&A that followed.
[snip]
Michael Pettis
October 16, 2009
The release of September trade data earlier this week was pretty interesting, although because of two or three extra working days last month, plus the very big holiday at the beginning of October which might have pushed activity into September, some of the comparisons are misleading. Exports were down 15.2% year-on-year, better than the expected 20-21%. Imports were down 3.5%, much better than the expected 15%. Month-on-month figures showed a rise in both imports and exports.
So much ink has been spilled in discussing these numbers that I won’t try to summarize, but it is worth noting that for many analysts the numbers were a very positive surprise. Typical was this Reuters report reprinted in the New York Times:
China reported surprisingly strong trade figures on Wednesday, providing fresh evidence that the world’s third-largest economy is firmly on the path to recovery and that global demand is improving too.
…Brian Jackson, an economist at Royal Bank of Canada in Hong Kong, said the slower pace of decline was good news for China’s recovery because growth this year has depended too much on the government’s 4 trillion yuan ($585 billion) stimulus package.
But even in this article there were hints that the numbers, especially the import numbers, might not be as positive as expected.
[snip]
China
Blah Blah
China is great
Blah Blah
China is Supreme
Blah Blah
Get surgery to change your eye shape now
Teach your kid Mandarin
Cut your hair in a bowl and paint it black
China China China China BLAH BLAH
The guy needs to be stripped of his citizenship and deported to the Commie Wonderville of His Dreams: China
Very interesting... so will ‘seeds’ for farming be the next bubble?
Blam,
What are your PERSONAL . . . speculations . . . expectations
over the next 4-6 months . . . re life in the USA?
Baraq is indebting us to China at a fearsome rate.
After we vote him out, America will reinvigorate capitalism.
And produce a lot of profits for our new owners.
But he lives in Singapore not Redistan.
We can only hope.
Do folks ask: how did we get here? or, What do we do now? or how do we reverse our fortunes?. No. Instead, they the messanger and stick their ostrich brains further in their holes. It is sad.
And how do you propose that we do that? First we have to run the current legal, financial and regulatory elites out of town on a rail, having tarred and feathered them. Instead of attacking the real problems, however, we focus on the symptom, 0.
Mainland and island Hong Kong aren't that bad.
Beijing, then a bunker may be appropriate prudence.
China’s one child policy, which has been in effect for about 30 years, will result increasingly in a population that is disproportionately male, disproportionately old and probably quite angry as well when young to middle aged men find they can’t get wives. I know Beijing has made a lot of progress; whether they’ll have the people who can enjoy it instead of working to pay others’ old age pensions is highly questionable.
Well since you know it all, do telll US the answers to your questions.
"over the next 4-6 months . . . re life in the USA?
I expect things to get worse...worse could be hurried by something shocking like:
(1) Israel attacking Iran, oil/energy problems
(2) A sizeable terrorist attack on the US
...these sorts of things.
I'm a pessimist and have prepared for the worst possible cases. (Yes, I am a survivalist type and will survive most anything)
The fact that he lives there rather than an amicable State in the U.S. tells you all you need to know about this self absorbed traitor. He made his fortune in America under American rules....and then leaves. He's a man without a country, a zero who's nothing without his bank account.
So to Jimmy I say, Well...Bye.
Did you bale hay as a young’un?
I know the dif.
Oh, got it.
We'uns is just the iggorant unwashed backwoods trash, a buncha dumb Rednecks who cain't even pernounce Kwant-um, right?
Nice to see a Madison Avenue DU'er here. We do so miss your sniffing imperiousness and superiority.
Yup.
Picked cotton, grew and harvested watermellons and my dad managed a dairy.
I'm a retired chip-maker (no, not potato chips)
Why?
The same way economies always collapse. They believe that speculation in financial instruments is the path towards generation of wealth rather than ruin.
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