Monday, March 09, 2009

More from Jim Rogers

More from Jim Rogers, this time sans bowtie:
"Britain & America have no clothes", part 1 of 3.

And, Part 2 and part 3.

I don't entirely agree with Rogers' views. For example, I think the massive US debt going forward means we do need to raise taxes on the wealthy to prevent stimulus-oriented public spending from causing inflation, and to prevent panicking foreign banks contemplating a possible collapse of the dollar.

In part two Rogers says, of the creditor-debtor relationship between China and the US, that

"it's the first time in history that an undeveloped nation financed a developed nation."

I don't know about that-- it seems to me that Europe and the US forced undeveloped nations to finance their growth, through the economic plunder of colonialism. But having said all that, there's still a lot of value to what he offers, and I think his misgivings about the bank bailouts are apt.

(Of course, as with any would-be economic sage-slash-teevee-talking head, it's useful to keep in mind how they might benefit or be hurt by different policies the government may take. This of course applies to Rogers, as well as Warren Buffet and Alan Greenspan, etc. It's very much to Rogers credit that he readily talks about his investment in Asia in this regard.)

cross-posted at Hugo Zoom.

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At March 09, 2009 1:48 PM, Anonymous Anonymous said...


I predict that we're going to have to jettison the whole system, instead of tinkering with bandaids placed as a kind gesture and specious formality, atop gaping wounds.

The US Dollar is shot. By the time Obama finishes mucking about the Middle East, none of the oil producer nations will want to price their bourse on the Dollar.

Some might say that is the goal. Some might suggest that the oil barons are already moving toward another currency.

At March 10, 2009 5:25 AM, Blogger Mimi said...

Fascinating. I've been to Singapore several times (and Hong Kong and Malaysia, as well) and it certainly seems a great place to live. Just considering its natural beauty and tha absence of great slum areas and urban blight, it beats a lot of other countres.


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