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Jim Rogers Tells CNBC To Change Its Name To CommoditesNBC, Sees Oil At $150, Is Short Nasdaq ETFs, Expects More Governments To Collapse
Jim Rogers, in his latest interview, cuts right to the chase: "I don't own many equities, because I don't know what is going to happen in the world economy. I expect more currency turmoil, more social unrest, more governments collapsing. So I am investing in currencies and commodities rather than stocks." Pretty much like everyone else, as we have been suggesting for quite a while. Rogers snaps at the trademark CNBC question of what he would be investing in: "I have been explaining to everybody on CNBC for a year and half or two now that food prices are going to go through the roof, they're going to explode. We have serious shortage of everything developing, including shortages of farmers... The average age of farmers in one major agricultural state is 58 years old. In 10 years it will be 68 years old. In parts of Japan they have no farmers... It takes 7 years for a coffee tree to mature. Orange trees, palm trees: you don't just suddenly snap your fingers and suddenly get some more palm oil. All of this takes time." So all those who believe that the surge in people rushing to fill the ag arbitrage holes will produce immediate results, may need to wait 3-7 years, dependant on access to manure.
On whether this is not a demand-led inflation in commodity prices:
Whenever governments have printed money throughout history, people put their money in real assets, whether it's rice or silver or natural gas. People protect themselves, they don't just say "give me some more paper money." And if you say it's not demand: go to India, go to China, see how people are changing their lives and using more." As for supply: "Commodities are based on supply and demand. You can have demand go down, but if supply goes down more you are going to have a bull market."
Not surprisingly, Rogers see oil at $150, and the exchange between Rogers and some CNBC guy discussing the role of speculators (it is all the evil speculators' fault, never the Chairsaint) is worth watching the clip alone.
Rogers' response to CNBC's desperate attempt to get him to list a stock or two for the lemmings to buy into, the response is priceless: "Commodities have outperformed stock by 10 times over the last 10-12 years. Why aren't you doing only commodities. It's outperformed stocks by 1,000%. To me it's pretty simple, you should change the name to CommoditiesNBC."
And, finally, his response to what his stock exposure is is not what CNBC wanted to hear. "I am short emerging markets ETFs, short Nasdaq ETFs."
Brilliant as always.
h/t etrader
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>So all those who believe that the surge in people rushing to fill the ag arbitrage holes will produce immediate results, may need to wait 3-7 years, dependant on access to manure.<
Shouldn't be any shortage of manure- we got GenBen, Timmay, and CNBS.
wow. they really don't like that, do they? think they will have him back? Or is this the end for Jim Rogers on the CNBC complex?
have not seen him on american cnbc for some time
he s on bloomberg occasionally and glen beck
by the by, buying the dip in the metals stocks here.
David Stockman is on CNBS now. Gotta share his analysis on the jobs data he's ripping apart the propaganda media spin.
To paraphrase one comment - we have lost 6.6 million jobs since the Great Recession began and since it (officially) ended we have lost another 2.2 million.
"I don't know why in the world you would buy a 100 year bond."
Stockman and Robert Reich have been canaries in the coal mine for the last two years. They are polar extremes politically and have had the same opinion about the bernank and the administrations economic team.
Today Stockman was, as usual, making the point about reality of the job market.
faber and that other trading shark kaminsky couldn't care less. All they care about is how to make the next trade. They are smug playahs like those fist bumping douches on 'fast money'. I don't know why they waste their time playing condescending concern trolls about employment when all they care about is 'strategizing' a way to beat an algorythm.
Can anyone confirm that this video isn't a Monty Python skit?
santelli slams liesman on jobs number
http://nakedempire.wordpress.com/
I bet Santelli will finally be let go...
Here is the vid:
http://www.eyeblast.tv/public/eyeblast.swf?v=hdqG8z6U8z&sm=1
No way. They (CNBC) are running the Bill Murray memes this week. They did groundhog day earlier. Stripes this morning on squawk. Rick did the "It just doesn't matter speech" (spaghetti and meatballs was the clue)
If they let him go, it will become the Steve (Liesman) Martin network which is far lower quality humor.
We turn the mute off when Santelli comes on. They know that.
Yup. And that is why they have him do alot of those 3-10 second spots in the middle of the advert blocks to catch Tivo'ers like me using pause/fast forward.
A currency is analogous to a non-dividend paying stock in a whole country. Most countries are busily issuing new shares. I'm not sure if that is where I would want to be, honestly.
Well put... I wouldn't touch the secondaries either
He's right about the farmers. There's very little money in it, sometimes less than minimum wage, and with the Food Safety bill in force, the little guy has the deck stacked against him versus the corporations. Not an attractive occupation, unless the price of food goes Wayyy up.
I am afraid it will temporarily for several years....go up that is.
Just long enough for people try to get into it, forced to lever up to compete with big farmers and guys with money like Jim who can make sure the 20 year old $50,000 combines cost $100,000. The fertilizer goes from $8/acre to $16.
Didn't they put a limit on cotton trading yesterday that you have to show a valid economic reason to order a contract? there is some sort of diabolical truth in there. The worst of price controls and speculation at the same time.
I've said it before and I hope I am wrong, but it is so bizarre that we are past fight club and into children of men/idiocracy.
Who the hell is going to get into farming that already isn't in farming? Are you suggesting that forrests will be uprooted and cleared for additional farm land because of the prices? That will be a quick turnaround lol...
One of the most rudimentary concepts of lower margin businesses is that YOU CANNOT LEVER AND MAKE ANY MONEY. If you are going to have to leverage up to compete with the joneses, then you're just shooting yourself in the foot... they can produce at much cheaper rates than you can and also weather the storm on bad crop years... you've already lost before you've started. You have to start small, very small, and inch towards your goals...
It isn't a panacea for wealth creation... you have to perform it intelligently like all other businesses... if you do so, then you can not only make money, but make truckloads of it.
Well, it's not an all-or-nothing propsition. I have no interest in competing with the commodities boys. Not all people buy from commodities markets. And, the commodities SYSTEM is highly dependent on diminishing resources, oil being key.
No, you don't hit the hill-holders head on, you put your nose down and dig away their hills... A great leveling will occur. Mankind has already proven what is and what isn't sustainable, and the mechanisms supported by the commodities markets doesn't come out on top.
I predict that a lot of people who don't grow food now will start growing food in the next couple of years.
I think I am agreeing with you. Nobody is going to cut down trees. Plenty of underbuild residential real estate for that (Detroit). And lots of people do try to borrow their way into farming and fail as you mentioned. And when they fail the banks get their stuff. When the TPTB fail, they get our stuff (taxes)
this isn't about wealth creation, this is about survival. A tremendous culmination of forces are about to (and have already begun to) create chaos in food production and distribution. Wisefool wisely points out that quite a bit of soon to rot real estate (that is sitting on fertile land) can be, an probably will have to be put to agrarian use
speaking of forces creating chaos in food production, have a gander here: http://csat.au.af.mil/2025/volume3/vol3ch15.pdf
one of my favourite links.
oh yes "could be fantastic" you soul-less *#@!*'s. . . when one factors in Mr. Microsoft's "stealth vaccines" (nanoparticles, yeah), and Monsanto's new aluminium resistant GMO seeds. . . well, the anger levels should hit "DANGER".
this document is from the late 90's - what they "project" is already being used, worldwide - aerosoling the atmosphere, spraying aluminium, barium, strontium, desiccated blood/virus, and yes, the nanotechnology that will astound. . .
Not trying to be provocative to either you or the OP of the document. But I am old enough to offer a metaphor. At the tail end of the cold war, both Russian and USAmerican engineers were trying to come up with a way to effect cost savings in fighter jets and bombers. The MBAs came in and realized that the crew station was the most expensive part of the airplane because they had to accomodate the rudy's and the andre the giants that were the disparate but best candidates in both nations. The answer was simple. All fighter/bomber pilots should be between 5'1 and 5'4. Statistically you'd find the most consistent supply of motor skilled gunners with the XX chromosome.
That lasted about 10 years. Now we can have children (of either sex) operate drone vehicles for a 700% cost reduction.
I agree, but that was not the point wisefool was making... go back and read his comments regarding trying to keep up with other farmers, i.e. commercial use.
Farmers' Markets are a great way to meet people in your area to form food cooperatives. Many people are also more willing to barter for useful items these days.
First, there is a significant amount of money to be made farming, if you're good at it (much the same as many industries).
Second, the little guys HAVE LIMITED LIABILITY ENTITIES TOO. If you don't, then you're playing with fire. Needless to say "corporations" is a misnomer... everyone has a separate entity...
Third, if the price of food goes way up, so does the cost to produce the food... crops are not grown in a vacuum. As a result, your analysis will be the same.
check out eliot coleman's methods. If you're smart, you can make money as a small farmer, year round. Permaculture methods are even smarter and have yet to be explored at any serious level.They also produce equal and greater amounts of food with dramatically much less labor and resource input
++ Permaculture
absolutely!
I've actually been lurking on some of his info for a while... I picked it back up when you posted a link a few weeks back... I have a birthday coming up and never have any gift ideas, so I think I'll do some reading. I'm actually planning on starting this. We have a couple different smallish farms, one of which has ~20 acres on the other side of the levee from a large river that would be perfect for this sort of thing.... my father is a spectacular vegetable grower (in his off time) and I've had to do my fair share of gardening growing up (had a 40'x120' garden growing up... grew stuff year round). I'm sure there is some optimal acreage/livestock/compost/water/energy combination... will take some tinkering. I actually hope to transition from my real job back into my familial roots (great grandfather was very large farmer in iowa... landlord offered him a couple thousand acres for his efforts if he would stay but, my great grandma wanted to move... doh). At any rate, farmers of all sorts (that are worth a shit) are a dying breed... it requires a significant amount of sophistication... many are like my great grandfather who, although never had much schooling (quit in second grade when he "knew more than the teachers did") are wickedly intelligent and ultimately end up being renaissance men because of the demands of the job. Hopefully I can rise to the occasion.
know you can
rec. these two books
http://www.amazon.com/Gaias-Garden-Guide-Home-Scale-Permaculture/dp/1890132527
http://www.amazon.com/Edible-Forest-Gardens-2-set/dp/1890132608/ref=sr_1_2?s=books&ie=UTF8&qid=1296919159&sr=1-2
Everything on the planet is correlated
with emerging markets and NASDAQ.
He's grown a pair.
Some of the hedge funds will pay
attention to him.
CNBC - Cleavage, Not Brains, Channel
NICE!
And that's the way it is....
(in Mr. Roger's neighborhood)
I just unsubscribed from C4L. They will not stop sending me emails asking what I don't know about the FED.
Ron Paul should just tell Ben to bring his books so the trolls can go to sleep and make investments into the future without another Democracy going to a blackhole vortex.
Skynet
"You should tell us all where it is...!" LOL!
Its obvious that Rogers has become fed up (over the last two years) w/ CNBC's due ignorance.
Speculators don't drive prices .... get the f'k out ... CL is down 3.25% in the last 3hrs... specs move against the institutions!? pleeeeease!
"Brilliant as always."
agree
shouldnt someone subpoena this guy !
Shorting TBT, bitchez. No one can
defeat the bernank.
120 bps higher on the long bond in less than 90 days shows he has already been defeated.
Good chance for a re-tracement here, so shorting TBT may work for a while. But only.
IMHO, the Benbernank has personally managed to kill the 30+ year bond bull market. Perhaps intentionally.
That will change and suddenly.
Tractor shopping at this very moment I type...Clearing pines to make way for orchards of several things
Buddy has been planting furiously at his farm as well...
Giddy up
Scary shopping for tractors when you're not familiar with them. Make sure you understand EXACTLY what you need your tractor to do. I went with a lighter one so that it would compact my soils less.
Can't wait till it's time to get back to clearing the "back forty."
John Deere 4020. They're an older model, but run forever, easy to find parts, 93hp and very reasonably priced in the 3-6000 range.
banksta's are crop killers†
Why anyone actually turns on CNBC i just can't understand..
Maria bartiromo! Booyah!
no it's the greatest contrarian indicator ...if CNBC says Gold is great, you short Gold, if they say technology stocks are on the floor you buy tek
no it's the greatest contrarian indicator ...if CNBC says Gold is great, you short Gold, if they say technology stocks are on the floor you buy tek
Thats damn Jamie D, is now resorting to BLACKMAIL of the American people,I say ROCK ON........Haul Ass.
BUT, before you can go, you have to pay back the money you took from US/w/INTEREST.
You slimy bstd
http://economix.blogs.nytimes.com/2011/02/03/the-ruinous-fiscal-impact-of-big-banks/?partner=rss&emc=rss
Jimmy was right, and will continue to be.
This stupid argument about speculators versus money printing misses two key points:
-Speculators cut both ways. Otherwise nothing would ever go down.
-The money printing question is not just about QE2. It's the culmination of 4 decades money printing to cover trade deficits and fiscal deficits. That money used to be saved but now is being spent as emerging economies begin to prosper and want more of everything.
-And a final key piece of the puzzle that even Jim only alludes to (cause on CNBS you might get shot): natural resource production has peaked almost across the board and in some cases are in decline. Supply constraints will continue and deepen, spurring competition. All the low hanging fruit has been picked clean. What we're left with is more expensive and slower to exploit. But some natural resources are in free fall and never coming back.
Speculators cut both ways...
Correct, which is why you have massive, illogical movements in both directions that stir havoc around the world: oil at ~$60, then a year later at $150, then a few months later it crashes by 80%. How do you run an airline with that sort of volatility? Simple - keep your retail prices pegged for disaster and charge people for silly things like pillows and bags.
In 2003, the amount of speculative money in the commodity futures market was somewhere near $10B. By 2008, when oil and food was rocketing through the roof, the amount of speculative money in commodity futures was somewhere over $300B - a 30X increase. And what happened once speculators realized, hey, these prices are fucking way out of whack? The $300B rug gets pulled out and commodities crash into the ditch. Great business environment, eh?
Speculators take a genuine supply/demand imbalance, juice it with steroids and chase it straight into their wallets, in either direction. Is there anything wrong with this? Yes and No. Don't allow speculators to turn the bread and butter of life's essentials into casino chips.
Furthermore, I have posted chart after chart after chart demonstrating the complete disconnect between QE and food commodities, which seems to be the central theme to ZeroHedge. To your point though, if the movement in commodity futures was due to "40 years of money printing", as you say, prices would not have crashed into the ditch while rates plunged to O% and $1.25T of new cash gets printed. Where was this "money printing epiphany" for the past 2 years during a time of unprecedented printing, and where was this epiphany prior to 2007? Or does this epiphany only surface when it's convenient to use it?
Lastly, as one of the most famous commodity speculators in the world, do you think Jim Rogers will fault people like himself for the wild price movements? If so, then you must also think a CNBC news anchor is going to openly admit stock cheerleading?
Edit in: That apology by the CNBC anchor to Rogers was insincere bullshit. He probably had his producer in his ear telling him to back off.
Speculation and it's effects are a response to the prevailing monetary system. Margins, position limits, leverage are not the fault of speculators- they are the tools they use to create a profit for themselves.
If the "system" did not want to abuse these restraints and profit from them, they would exist and be enforced. You are trying to blame the faceless "speculator", when you should be blaming the commodity exchange , the federal reserve and your government.
It is the elites that have created and fine tuned the system we have presently. You are shooting at the wrong target. Speculators help markets find price equilibrium. They are not the problem.
The Chicago Board continues to drag out position limits, but raises margins when necessary on select commodities it wants to game. Scream at your regulators, wail about your legislators, storm the bastille of the SEC, then your voice will ring truer to my ears.
well said. This kind of destruction would have never happened without systemic corruption, deregulation, abuse, and government complicity
"Speculators cut both ways. Otherwise nothing would ever go down. "
Yes, but... with fewer big fish splashing around it ends up causing havoc on the system. While I agree somewhat with Repugnat, I don't believe that he/she is accounting for the fact that this is a symptom of a much larger problem, and that's that the system is fighting to keep itself alive, it's hitting the wall of limitation to growth.
One can cheer one side or the other, but meanwhile while everyone's playing the game Mother Nature is coming behind us and is going to slap us silly.
Jimbo shorting the emerging, he is always right but akways to early,
He can afford to be early. We're jealous.
Rogers is one of the worst traders ever.
He's usually correct on his long term macro themes, but terrible at timing entry and exit points.
Shorting the NDX?
Today, it is barely pulling back even though commodities are getting hammered.
Wow, Captain Hindsight doesn't even really have good hindsight.
Rogers is one of the greatest traders of all time, you dumb fuck. He doesn't have a femtosecond attention span like you.
cool. femto.
tmosley knows his science...
Rogers admits he is not the best day trader on almost every interview he does. What matters in the long run is just that- the long run.
+ 1
I think I heard him say on TV once that he is "the world's worst market timer."
But, I agree with bulk of us here: he gets the longer term themes right. That for me is the main thing. I do not do short-term trading, usually did poorly when I took a shot at speculatin'.
Just another Bull in bears clothing. A phony naysayer. Who the fuck would short this market with The Bernank and his 4 musketeers running the show?
i've shorted the market and am pleased to hear Rogers has too (he's probably copying me the cheater!) ...I'll bet against the Fed all day coz nobody controls the market, especially the dumber than mud Fed
Has anything so stupid ever been said on ZH?
You Sir, are a first class douchebag.
Mubarac style govnt speaks again.
http://www.marketwatch.com/story/sec-eyes-high-frequency-trader-rules-in-spring-2011-02-04
As always a day late and a dollar short
Where are the Obama/Bernank a*s boys who post here? The ones who love The Muslim Brotherhood. GW, Hairy Wanker, etc etc. The dickhead's who listen to NPR.
Oh like Commissar Critical Thought? I eviscerated him here and yet he still continued to spew without so much as a pause in self defense:
http://www.zerohedge.com/article/persons-not-labor-force-who-want-job-no...
dependent upon "access to manure". Just watch Cramer tonight and you'll have access to plenty.
when Rogers talks you listen, when Cramer talks you hoover the lounge
Dollar trading with a 78 handle? Cmon dollar. I know you got one more round in ya! Dig deep.
Ben Bernanke, Timmy and Obama do not want the dollar to appreciate. Why you fighting the FED.
The best investment advise you will ever get. The few or one who stands alone and is always attacked by the majority. He alone will be correct. The majority is ALWAYS wrong for they have been led down a path to destruction. That is why only 1 in a million ever become truely wealthy. Always follow the guy going upstream he will come out on top. GUARANTEED
Ive been feeling awfully alone recently. Hope you are right.
To produce food a farmer must have land, water, energy, labor and motivation. Oh, and access to free markets. If you are short any one of these you cannot produce food. The world is largely short of all the first five, and given tyrannical government regulations and corporate market dominance #6 is questionable - so where's the food going to come from?
are you short of water or food? ....so STFU please
You left out some huge factors out. Bless your faith that all can be solved through de-regualtion (like it helped the S&Ls and real estate market, banks, telecom services and airlines).
There are massive problems looming that will affect global food supplies. Ya ain't seen nothin yet.
I would think trade restrictions and the breakdown of "shortcut" routes (e.g. suez) would be of pretty significant importance in the coming... hell, days (fuck, did I say days? We're getting close).
ZH...Brad Schaeffer appeared on CNBCWE with Nicole Lapin this morning to skool you on oil speculation...so there!
Jim Rogers, so simple, just the truth, and he is the best.
I'm convinced they are trading the brent/WTI spread. Good morning/afternoon every one.
He is usually little earlier.
I'm getting concerned in terms of short side. lol
I'm convinced they are trading the brent/WTI spread. Good morning/afternoon every one.
He is usually little earlier.
I'm getting concerned in terms of short side. lol
Expect to see a large percent of alfalfa in CA being planted in cotton this year. That will put even more pressure on the sickly dairy industry out here, which translates into higher milk prices by year end....ps for those not in the know, CA is the major dairy producer...ditto high end cotton.
Rogers is right about some crops...tree crops especially take years to get into production, but he is wrong about field crops..they can be switched around in a season....we will probably see a glut of cotton by this time in 2012, a shortage of alfalfa, etc.
Rice may be a different issue. CA, again, is the biggest producer of high end rice....and rice takes more water than other crops. Given our fairly wet winter here, rice should be in good shape for CA...I do not know about rice production from other states.
One of the most limiting factors faced by farmers in CA is government regulation and interference. A CA farmer today must know ag, finance, and be a lawyer.
We grow about half the nation's rice and have the world's largest rice mill... and we're at drought levels... we're tens of inches behind... but, 2011 is an "out of rotation" year for rice in Arkansas...
And, no, field crops cannot be changed too much... the types of crops you can grow are solely dependent on the type of soil you have (all else equal, e.g. water)... generally speaking, there is a short list of the best crops for any particular parcel. This fact, combined with good husbandry, make switching crops a difficult task in some regards. Especially when the farmer is not properly equipped to handle a new crop and has to purchase expensive equipment... re-tool if you will. Obviously, the lead time is shorter than trees, but still... field crops can't be changed on a dime either.
And definitely, definitely, farmers must be in constant communication with the lawyers... new farm bill this or that... farming entities.... maximization of subsidies... you name it.
Aren't the farmers in Central CA getting stiffed on the water supply because of Barbara Boxer and the wacko enviros over some little fish?
If I remember correctly you get a shit load of cotton per acre following alfalfa, a nitrogen fixing plant. Rotation bitchez!
"dependant on access to manure."
There's more than enough horse shit in the MSM complex. This shouldn't be an issue.
Horse dung as manure:
Pro - Lower chance of infection for e coli O157
Con - Higher acidity content (soil pH issues)
Instances of E-coli can be smacked down some 80% - 90% by grass finishing cattle their last week.
There are also issues of dewormers and ingestion (and passage) of grass that's been sprayed with weed killer (can't recall the spelling, but there's one nasty one that sounds like "poppyraid").
Good info. Thanks.
I've spoken with a couple of individuals who have expressed a desire to begin moderately-sized organic farms. I tend to take some wind out of their sails when I point out the growth hormones, herbicides, and other synthetic chemicals in the various livestock-derived fertilizers (manure).
Our various ecosystems are heavily contaminated with these poisons; in the soil, water, and air. It's difficult to go strictly organic. It's also one of the reasons the USDA lowered its standards for organic labeling several years ago.
http://goldsilver.com/video/bix-weir-the-conference-call-on-the-end-game/
Please see this video, it is about a new US dollar and currency revaluations and settlements if this is true it is serious but again when this will happen?
I am ignorant someone tell me what really it means to me? average person
He needs to loose the bow tie. Its going cause a stroke or heart attack.
"Unlike economists, Rogers is not merely interested in economic policy or analysis but in scouting out investment prospects. He is none too optimistic about the United States. Bright spots include Botswana. Botswana? Yes, and he tells a great story about why he is optimistic about this small African country."
Book Review: Investment Biker by Jim Rogers By Richard A. Cooper • July 1995
If anyone is interested in agri-tech, I know a company looking for some capital:
http://www.verdantearthtech.com/
Farming for a living is a hit or miss business. My neighbors were one of the largest bell pepper farmers in the country. They had a farm that went back to the 1930s. Competition from overseas led to lower prices. The cheaper prices from Mexico really ate into their profits. When they got a couple of bad seasons in a row they went out of business. A bad season could mean low crop yields or just low prices for the commodity (to much supply). They went out of business last year. This year Mexico had a bad season (weather) and bell pepper prices now go for a premium. Unfortunately, my neighbors are no longer in business and can't take advantage of the commodity increase. They had hundreds of acres that just sit there unproductive. Their bankruptsy went into 25 million plus range. It takes a lot of money and credit to farm on a large scale and the seasonal risk is enormous. When a farmer goes out of business the production goes away for years or even decades. It can't be brought back online to meet demand easily. The shorterm cycles capable of bankrupting farmers helps to explain why production has become so inelastic. Damage to wheat farms in Russia or Australia could have a monumental impact on prices.
I know what you mean....farming is a huge gamble with weather and market prices outside of the farmers' control. Also, farmers tend to plant what is in shortage (highly priced) one year and then there is a glut of that crop the next year with low prices.
The most stable, long term money making tree crop I have seen is almonds. The best place in the world to grow them is the Central Valley of CA. More and more get planted, but the demand for them just keeps pace....hard to find any other crop where that has happened. On the flip side of that was the pistachio fiasco....back when the Shah left Iran every Tom, Dick, and Harry planted pistachios in CA because Iran was a major producer and folks thought their production would not come into the U.S. Seven years later when all the pistachio trees began producing, guess what....a total glut of the nuts...they had the D9's out pushing the trees over the next year.
What investors were led to believe was a 'sure thing' was surely not.
We have two very large regional areas hitting severe weather issues causing massive crop failures. If we have a bad crop output in the U.S. this year, then we will see some very interesting uprisings around the world maybe even in this one.
BIG = FAIL
If you're not diversified then you're going to get blindsided.
Yes, it sucks that we can't keep some farms going, but this is the way of the current system, whose premis took off with Earl Butz's proclaimation to "get big or get out."
As noted, what happens if Mexico suffers? What happens when the ONE basket is dropped?
Mother Nature doesn't like too much of anything.
Rogers or Faber are usually on the Far East or European Bloomberg/CNBC feeds.I don't know how long it will last,I'm amazed they are alowed air time at all.
It cannot be long before they are, as they say in my business NRB'd - not required back.Someone is going to shut them up.
No dude, I think these guys have been so spot on that they are brought back to keep the shows interesting.
Look at Peter Schiff. Never would've been allowed airtime with CNBC or Fox Business, but after he started coming out with the videoblogs he was summoned onto many shows. At first it was like four pundits against him, but now they give him simple questions to explain his position.
If you trade commods, FX or any trade, Faber, Rogers, Schiff and others are household names because they uphold the correct science of AUSTRIAN ECONOMICS.
They get brought back in order to pull in audiences from the likes of us. Really, think about it. Who has any money these days? Stop and take note what commercials air when they're on. Well, OK, I don't know, because I don't watch TV and I have more important things to do other than watch people tell me to do things that I know instinctively of. Yeah, sometimes it's good to get affirmation from them, but at some point sitting around and feeling good ain't going to move one forward...
Way to go Jim Rogers! Telling people fiat money destruction globally as paper money collapses in a daisy chain of monetary destruction!! Yup! I knew that 3 years ago; buying physical silver and it still holds true to buy commodities!! Today I would add short the long bond as it just went beyond 4.7%!! Bonds racing to worthlessness; yields going strospheric as benron loses control!! hehehehehehehehehehe! Saw this coming in the great white/black house money print to infinity!! I'm goon-a be 1st in line for treasury century bonds!! hehehehehehehehehehehe!
the energy dislocation (stupidity) will not last, Europe is already running autos on NatGas. forget solar, forget coal powered electricity for your Prius. buy UNG btichez
So, the "solution" to the shortages of energy is to use more of a particular kind? Wouldn't that tend to deplete what's available? As Dr. Albert Bartlett referes to this kind of thinking- "strength through exhaustion!"
Further, lots of natural gas tends to come from oil wells, as a "by-product."
And, just where does Europe get that NG? Russia (and unstable fringe countries).
our energy policy is stupidity on steroids. with Natgas inventories high, and plenty of supply to back that, why aren't we doing this? the guys in Washington are complete morons. I would would immediately put rebates on Natgas conversions, and stations. Also have you see the price of Propane, obscene. In this case being smarter than the market isn't that hard.
Speaking of bonds, 10's are up 9bps.
He is usually little earlier.
I'm getting concerned in terms of short side. lol
"Texas is the third largest producer of citrus fruit in United States, the majority of which is grown in the Rio Grande Valley. Grapefruit make up over 70% of the Valley citrus crop, which also includes orange, watermelon, tangerine, tangelo and Meyer lemon production each Winter.[7]"
http://en.wikipedia.org/wiki/Rio_Grande_Valley
The sustained hard freeze below 27 degrees f last night, and again tonight, is expected to reek havoc on the fruit trees and future production. Some sugar cane production will also be lost as well as the unreported production that occurs on the other side of the border.
It's a conspiracy by the "liberals" to force us to believe in "climate change!"
All eggs in one basket... Weather shifts and will continue to do so. BIG systems (of the man-made kind) cannot cope with variability.
Do you believe it is conspiracy to attribute the H.A.A.R.P. project to man-made weather shifts?
Not trying to be a smartass. Just trying to gauge the content of stannous chloride in your hat. :)
http://www.youtube.com/watch?v=eFQjt_QsrYA&feature=related
I love me some Anna Edwards.
I think it's important to consider and plan for how an extended or indefinite period of $150+ oil is going to play out. The 2008 reaming was very short lived.
There are "market numbers" and then there are "street numbers." On the street it's about affordability; doesn't matter a whole heck of a lot what the price is if you are broke.
Affordability is the word. I don't think its just talk anymore. We're finally on the cusp of social instability in many parts of the U.S. Sixty-ninety days into $5.00+ gallon gas in this weakened economy would just about start the collapse. (IMO)
http://goldsilver.com/video/bix-weir-the-conference-call-on-the-end-game/
Please see this video, it is about a new US dollar and currency revaluations and settlements if this is true it is serious but again when this will happen?
I am ignorant someone tell me what really it means to me? average person
good... everyone in the west is too fat anyway. Higher food prices means that we will just eat less (and probably live longer). Perfect result.
screw agriculture - its all about snowflake futures!!!
http://finance.yahoo.com/news/Companies-place-bets-on-cnnm-1512315541.ht...
The one guy kept telling Rogers there was plenty of oil around. It's everywhere.
Rogers says, well great please tell the International Energy Agency. Tell Exxon and Shell where it is because they cannot find it.
ROFL!
Then the same guy mentioned speculators and the price of oil and Jim noted there is a buyer and seller for every transaction. Who are you mad at?
Wow what a great pasting that was. One of the best.
I like Jim....I always have as long as he has been doing interviews. I am not sure I agree with him in commodites shooting ever higher. I am not sure he takes into account the fact that high prices are what derailed the world economy the first time around regardless of the real estate bubble. It came down to the amout of "hot" money drifting around these markets. Markets that for all intensive purposes were never designed for this. I would have to agree with him...on the NASDAQ (I am not short yet but will be between the 3335 and the 3360 level. I think it has another week of gains or so maybe two. I disagree with him about oil...I think we will see $79.00 a barrel before we see $100.00 a barrel. Price action is saying that on all the higher time frame charts. I will be short oil this week. I caught the first move down too. From 92.00 to 86.00 and I will catch this one too. If I am wrong the stop is 91.00. I still think the stock indexes have a bit more to climb....which is where most of the retailers buy and hold for the long term. About the same time the market corrects. I can't buy the fact the he is so adament about shortages so badly in cotton, wheat, sugar and some other key commodities that have not just gone up but through the roof as to not give some weight to "hot" speculative money. In the long term he may be right but short term it makes no sense. However I am arguing with a man who fund made 4200%. Who am I to question him...I haven't done 4200% yet and please don't tell me about the latest Penny Stosk explosion. His fund had hundreds of millions. Try doing it with that kind of money. It sounds easy but it isn't.
We can all invest in Facebook and socially network ourselves to food
What people don't know makes me money everyday.
"We had natural-gas supplies," said Monica Hussey, spokeswoman for New Mexico Gas Company. "But we couldn't get the supply on hand out of storage and to customers because it needs to go through compressor stations."
For those looking to make some long term sense of all this from an investing perspective I suggest reading "Asset Allocation" by Roger Gibson.
Listening to this drivel on CNBS from either side of the pond is painful. Those inselaffen sure are a smug bunch of know nothings. Very different from the 'mericans though. They are just plain vapid.
As mentioned, crude oil weekly and monthly charts are not bullish at present.
EURO downside and USD upside will keep recurring.
http://stockmarket618.wordpress.com
http://data.bls.gov/pdq/SurveyOutputServlet?data_tool=latest_numbers&ser...
Rogers is actually most bullish on water but it is difficult to invest in for political reasons. If you can own water rights in a politically stable place, it could be a gold mine.
http://fundmanagernews.com/jim-rogers-water