Jim Rogers on the US!

[BadJuju]

http://www.bloomberg.com/apps/news?p...d=a7lAsPVUwcu0

Hi, Mega! :p

[Mega]

Re: Jim Rogers on the US!

I think & Fred might back me up on this the $ at lest has the benafit of being the Worlds "Money". Most transactions are in $, thus there will be for sometime a demand for $.

The Pound on the other hand is about as useful as a Chocolate Tea pot!
Mike

[D-Mack]

Re: Jim Rogers on the US!

I think & Fred might back me up on this the $ at lest has the benafit of being the Worlds "Money". Most transactions are in $, thus there will be for sometime a demand for $.

The Pound on the other hand is about as useful as a Chocolate Tea pot!
Mike

backed by F-16, as they say

[sishya]

Re: Jim Rogers on the US!

Jim Rogers has lost a lot of Money recently being short US Dollar and Long Commodities and China Stocks. Is it good to listen to him now ?

Looking at how Deflation is taking hold, I think it is better to take the other side of the bet.

[phirang]

Re: Jim Rogers on the US!

I really don't know how Jim Rogers survives: he's all over the place and usually wrong.

[ProdigyofZen]

Re: Jim Rogers on the US!

and he is going to make it alllll back and then 10 fold when the dollar tanks and commodities explode. That may happen in 6 months or 2 years but it will happen.

[phirang]

Re: Jim Rogers on the US!

I think the RMB would explode before the dollar did...

[flintlock]

Re: Jim Rogers on the US!

Time will tell. I think he's right about a lot of things, just his timing may be off.

[ax]

Re: Jim Rogers on the US!

[quote=BadJuju;71541]http://www.bloomberg.com/apps/news?p...d=a7lAsPVUwcu0

On my last trip home to Cleveland (one of the cities in this country where people read a lot), I was able to purchase an autographed copy of Investment Biker for $4.98 at a used book store. In it, Rogers writes:

"What a difference between the Japanese attitude and that of the American govt! We say, 'Let's let the dollar depreciate and devalue. We'll be the low-cost producers and we'll sell more because our prices will be lower.' Except for short perids, that policy has never, ever worked in the history of the world.....

Well, some say it's worth it if we keep our people employed, if we make America first. Unfortunately, it doesn't work that way. Because the dry cleaner on the corner has paid 15% more for his Chevrolet-as has every one of his suppliers-he must raise his prices to reflect the increase. He and his suppliers must also collectively pay 30% more for all the things we Americans import, be they palldium, titanium.....the list is endless. Add these to the domestic increases brought about by devaluation, and its seemingly no-cost benefits disappear in a year or so....

Now inflation starts. The Chevrolet creeps up in price...Toyotas sell for less, and Chevy loses market share. As this scenario is repeated, a powerful noose tightens around the country's financial jugular that it only rarely escapes....."

Any of this sound familiar? This was published in 1994, so some of it was written even before then. I was struck repeatedly by how many of Rogers' insights have seemed to play out in modern day.

Whether or not he has been wrong on some trades recently, it seems he has been right in the past on a few very large trades like his teacher, Soros.

[metalman]

Re: Jim Rogers on the US!

[quote=ax;72344]

http://www.bloomberg.com/apps/news?p...d=a7lAsPVUwcu0

On my last trip home to Cleveland (one of the cities in this country where people read a lot), I was able to purchase an autographed copy of Investment Biker for $4.98 at a used book store. In it, Rogers writes:

"What a difference between the Japanese attitude and that of the American govt! We say, 'Let's let the dollar depreciate and devalue. We'll be the low-cost producers and we'll sell more because our prices will be lower.' Except for short perids, that policy has never, ever worked in the history of the world.....

Well, some say it's worth it if we keep our people employed, if we make America first. Unfortunately, it doesn't work that way. Because the dry cleaner on the corner has paid 15% more for his Chevrolet-as has every one of his suppliers-he must raise his prices to reflect the increase. He and his suppliers must also collectively pay 30% more for all the things we Americans import, be they palldium, titanium.....the list is endless. Add these to the domestic increases brought about by devaluation, and its seemingly no-cost benefits disappear in a year or so....

Now inflation starts. The Chevrolet creeps up in price...Toyotas sell for less, and Chevy loses market share. As this scenario is repeated, a powerful noose tightens around the country's financial jugular that it only rarely escapes....."

Any of this sound familiar? This was published in 1994, so some of it was written even before then. I was struck repeatedly by how many of Rogers' insights have seemed to play out in modern day.

Whether or not he has been wrong on some trades recently, it seems he has been right in the past on a few very large trades like his teacher, Soros.

in investing, early or late usually = wrong.