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Jim Rogers: "Bernanke Is A Disaster" Who Will "Bring QE Back"

Tyler Durden's picture





 

Jim Rogers spoke to a very dramatic and even more hoarse Bartiromo, touching on old and well-known themes, namely that the administration is essentially using up its last stimulus bullet with the current recession: "When the problems arise next time what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around." Alas, as Obama appears to be preparing, "they" will simply do more of the same: the same payroll tax that was supposed to cure all evils in December. The fact that nobody anticipated something so stupid is probably indicative of the administration's genius. Or lunacy. Followed by more dollar printing of course. On what needs to be done to avoid the debt ceiling breach which will shut down the government, Faber believes that nothing short of Draconian measures will be relevant: "We’ve got troops in 150 countries around the world. They’re not doing us any good, they’re making enemies. They’re costing us a fortune." On the other hand he acknowledges: "we can never pay off these debts." As usual, Rogers saved the best for Bernanke: "Since the first day Mr Benanke went to Washington I knew he was going to be a disaster. He has never been right about anything in the 7 or 8 years he has been there. I hope he doesn't come back with QE3 but that's all he knows. The only thing he knows to do is to print money. He doesn't understand finance, he doesn't understand currencies, he doesn't understand economics. He understands printing money. It's the wrong thing to do but that's what he'll do... They're gonna bring QE back because he will be terrified and Washington will be terrified," he said. "There's an election coming in November 2012. Washington's gonna print more money." Lastly, in terms of investments, Rogers is long the dollar but only "for a rally", and also owns Chinese stocks and commodities, would be buying more gold and silver if the price were to go down, and is short tech stocks and JP Morgan. Like we said nothing new. With one addition: the republicans will now get tax cuts, so democrats get QE3. As we have been saying - 2011 is nothing other than 2010 all over again.

 


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Wed, 06/08/2011 - 20:07 | Link to Comment Conrad Murray
Conrad Murray's picture

Marc Rogers?! What an insane beast of investing that would be. The Duo of Doom coming to take your profits and drink your beer.

Wed, 06/08/2011 - 20:11 | Link to Comment flyr1710
flyr1710's picture

marc rogers was his alter ego interviewing him

Wed, 06/08/2011 - 20:16 | Link to Comment Conrad Murray
Conrad Murray's picture

You beat me to my edit. Wanted to add:

the republicans will now get tax cuts, so democrats get QE3

Absolutely no reason the People should have to pay taxes when the State can print at will. Until Bernanke, Geithner, and Paulson are in prison, and Bush, Cheney, Obama, and Biden are tried for war crimes, the United States of America is a joke.

Wed, 06/08/2011 - 20:18 | Link to Comment Hugh G Rection
Hugh G Rection's picture

Bush Cheney Obama and Biden in general population at pelican bay would make a hell of a reality show!!!

 

O man I would watch the shit out of that.

Wed, 06/08/2011 - 22:13 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Jim Rogers sez:

Bernank done and gone brung in the noize & brung in the mo'fo'ing pain, bitchez! Someone slap & splatter that Bernank buzz buzz like the malaria carrying bitch he iz!!!

 

Seriously, that was an epic rant, impeaching Bernanke's ability to use even the most basic, core competency, let alone not do incredibly asinine things, even by Jim Rogers' standards, who knows that we know he is no fan of Bernankstain.

 

Beautiful. I watched it twice.

Wed, 06/08/2011 - 23:40 | Link to Comment dolly madison
dolly madison's picture

Bernanke looked like he really did have malaria at his little talk the other day.  Did anybody notice that?  He was pale and mis-spoke repeatedly.  Based on how he looked, I think things could fall apart pretty quickly from here. 

Wed, 06/08/2011 - 23:31 | Link to Comment Real Estate Geek
Real Estate Geek's picture

That would be must-see TV.  But not at Pelican Bay, because it's a SuperMax.  I want those guys sent to a place where they have to get by out in the yard with the hoi polloi.

Thu, 06/09/2011 - 09:25 | Link to Comment boiltherich
boiltherich's picture

I am from the county where they built Pelican Bay and I would much prefer they send them elsewhere.  Just hang them in fact.  As if I needed to be reminded I rented Fair Game the other day, there were at least 5 different treasonable acts committed by the top end of that administration in regard to Plame and the lies that took us into war in Iraq, sad mess this nation is, I am very pessimistic about our collective futures.

Wed, 06/08/2011 - 21:08 | Link to Comment monkeyshine
monkeyshine's picture

Absolutely no reason the People should have to pay taxes when the State can print at will.

 

100% agree.  We have a $1.5 trillion deficit largely due to the attempts to stimulate the economy. Imagine the stimulus if NOBODY had to pay taxes, and instead of all the stumulus BS they just pass the 2008 budget and paid for it with borrowed money! Our net-importing/consumerist/service-based economy would be booming and the system would be well greased with cash.

I got another out of the box idea. What we did 30 months ago was to take Investment Banks and merge them with regular banks so that they could borrow money at Fed Window in the hopes that the money they borrow would trickle down.  Imagine our surprise that Investment Bankers grabbed all the cash they could and then refused to lend it!! (sarcasm).  Instead of giving money to people who would rather hoard it or invest it in stocks, options and bonds, how about we just lend money directly to homeowners at 3% for up to 30 years fixed.  Every houshold/family would see their mortgage cut in half or more, there would be fewer defaults, and there would be more money to invest, save and spend?  While it may be a loss compared to T bills, it wouldn't be much of a loss, yet it would also grow the GDP, be an investment in Americans.  

There are plenty more out of the box ideas I'm sure.

And while I agree, we cannot sustain a consumerist/net importer/service-based economy (unless we can figure out how to export a shitload more services (I did see a lot of Starbucks and Subways on my last trip to Europe but the royalty rate on coffee and sandwich meat can't be all that lucrative)) we won't make a shift back to a manufacturing/producing economy without capital and a significantly smaller list of federal regulations without capital being made available to risk takers.  And giving money to Investment Bankers who are guaranteed a spread for NOT taking risks is simply not going to create a big pool of venture capital. What we need is real people's real money sloshing around the system competing to be lent to the best ideas. 

Fire away...

 

Wed, 06/08/2011 - 21:21 | Link to Comment Conrad Murray
Conrad Murray's picture

I would like to see the mortgage situation fixed as well, but I would deal with it a bit differently. First, every mortgage in the country has to be reviewed. During the process, if your title was not properly conveyed, the deal is off. The responsible party will return all payments made. Anyone who invested in structured products, tough shit. Whoever is the last legal owner of the property gets it back.

Second, there are no bailouts. If this process causes a bank to become insolvent, it is immediately seized and resolved. The top 20 people(arbitrarily picked number, adjust as seen fit) at the institution forfeit everything they have and are set for execution.

Third, this will likely cause the Federal Reserve Corporation to go bust as well. Same for them with respect to consequences except the top 100 people are set for execution.

Finally, of all those set for execution, anyone who comes forward with sufficient evidence of wrongdoing from a local, state, or federal government official, can have his or her sentence reduced to life in prison. If execution is still preferable, 2% of his or her possession will not be forfeited, but will instead be left to immediate family. The government official will forfeit all property and be set for execution, and the same offer made for whistleblowing.

Wed, 06/08/2011 - 21:27 | Link to Comment dbach
dbach's picture

I like those ideas. Re: the first one, how about a purely fiat money system instead of this debt based one? Any deficit the government makes will just be printed. That way you don't need a fed and any inflation is directly the governments fault and they can be held responsible directly rather than the current pseudo democratic fed system.

I also like the other idea, and have thought that myself over the past few months. If Ben did actually fly his helicopter in and air drop money to the people that actually need it we would still see some inflation, probably similar to that of the inflation spurred on by traders, but at least the poor and middle class would have the money to keep up with the inflation instead of it all going to the top tier of society.

Ideally I am for sound money, but the system we have right now is neither sound money or inflationary fiat, but someplace in between that ultimately fleeces the ignorant masses and accumulates in the hands of a few rich entities.

Wed, 06/08/2011 - 21:42 | Link to Comment Conrad Murray
Conrad Murray's picture

Now, I'm not actually for this, but if we're going to do crazy shit and just throw money around, this is how I would like to see it.  Once a week .gov pulls 50 SSNs at random of people making less than 250k/year and gives those people 100k. I think that would be a bit better than helicopters.

Wed, 06/08/2011 - 22:34 | Link to Comment dbach
dbach's picture

That would save on gas for the chopper...

Thu, 06/09/2011 - 02:15 | Link to Comment dracos_ghost
dracos_ghost's picture

Sounds like Bitcoin.

Wed, 06/08/2011 - 22:12 | Link to Comment Chuck Walla
Chuck Walla's picture

Does any of this really matter anymore? If we have one more QE, shouldn't that be enough to put this broken old horse down? The legs are gone and the back sways under the weight of the centrally planned welfare state.

Wed, 06/08/2011 - 22:33 | Link to Comment BobPaulson
BobPaulson's picture

QE is a tax on TBill holders and I concur with the above idea that true fiat is an improvement over the convoluted debt fiat via the private bank called the FED. The obvious problem is similar to pre-revolutionary France, your cycles of fiat devaluation and new fiat currency reset keep getting closer and closer together until people just avoid the bogus fiat and go to bartering.

Thu, 06/09/2011 - 09:45 | Link to Comment boiltherich
boiltherich's picture

"QE is a tax on TBill holders..."

 

Just to be clear again, who is it that is forcing all these bill, note, and bond holders to hold that debt?  QE is a tax (inflation tax) on all who hold and use dollars for sure, and that is involuntary (at least domestically) because dollars are the only legal tender here, but nobody is making "investors" hold Tbills so if they are getting screwed they must be enjoying it somehow.  You never know what utility some people get out of some things but they do the damndest things so they must have their reasons yes?  I can't imagine the utility in meth but millions of people seem to be using the stuff.  Go figure.  People still smoke too. 

Wed, 06/08/2011 - 22:03 | Link to Comment ColonelCooper
ColonelCooper's picture

I know I'm late to the party, but the tax/print part of your comment is exactly what I was thinking. 

Wed, 06/08/2011 - 20:18 | Link to Comment hamurobby
hamurobby's picture

I just couldnt see Faber in a bow tie.

Wed, 06/08/2011 - 21:30 | Link to Comment Ergo
Ergo's picture

Cough syrup with codiene - that's what Maria needs.  Fixes the voice immediately.  If you're in the business of talking, you should know that.  (I had to do it once before a trial setting.  Worked like magic.)

Wed, 06/08/2011 - 20:14 | Link to Comment Xibalba
Xibalba's picture

err.....'unavailable'

Wed, 06/08/2011 - 20:17 | Link to Comment spinone
spinone's picture

We privatized the currency to the Federal Reserve. They will manage the currency for the benefit of their shareholders until no mor eprofits can be extracted from the United States. Then they will dump the dollar, and go international, and create a new currency they can continue to make money off.

As long as they can continue to make money from the dollar through bailouts, they will continue to wring it dry. Once the bailouts run out, they will move on.

Wed, 06/08/2011 - 21:26 | Link to Comment OrestesPenthilu...
OrestesPenthilusQuintard's picture

Partly true, but 2012 is probably the year that one of the last cards, if not the last that "The Order" will play.  You'll see:

Pick one:

-false flag fake alien attack / invasion (least likely)

-false flag biological attack, get your vaccine (chip) or got to a detention center (FEMA camp) (most likely)

-false flag "terror" attack.  Not as likely as you'd think seeing that it would have to be PERFECT with all the cameras around.

-World War III - nuclear re-set, population implosion Denver Airport mural style Georgia Guidestone population buster.

Wed, 06/08/2011 - 22:36 | Link to Comment BobPaulson
BobPaulson's picture

They don't need that. The frog is quietly boiling in the pot. You don't have to pull it out and hit it with a hammer.

Thu, 06/09/2011 - 00:56 | Link to Comment alexdg
alexdg's picture

True, HLS and TSA have gotten us all into submission.

Thu, 06/09/2011 - 01:08 | Link to Comment wisefool
wisefool's picture

I love stuff like the DIA conspiracies. But nobody seems to have any new creepy stuff on it.

Is there anything more recently discovered that is that truly creepy? I don't get into the ghost/UFO hunters type stuff, cause it is a little to McReality/$$$ for me. DHS/TSA/HSA is kinda interesting, but I pretty much know thier game. Get a pension. CDC came out with a zombie survival guide, but that was just more along the lines of making some news for themselves.

Wed, 06/08/2011 - 20:14 | Link to Comment Hedgetard55
Hedgetard55's picture

" On what needs to be done to avoid the debt ceiling breach which will shut down the government, Faber believes that nothing short of Draconian measures will be relevant: "

 

It would be very kewl to have Jim and Marc on together.

Wed, 06/08/2011 - 22:32 | Link to Comment gmj
gmj's picture

Sounds like they were in the same body.  Heaven help us.

Wed, 06/08/2011 - 20:20 | Link to Comment apberusdisvet
apberusdisvet's picture

Thye only thing that saves Obama is WWIII, and he is dysfunctional enough to go that route.

Wed, 06/08/2011 - 22:15 | Link to Comment nathan1234
nathan1234's picture

I agree. The seeds have already been sown. The full fledged war should start shortly. Before the money runs out the war needs to be started.

Also before the world realises the dollar is nothing but monopoly money and of no value. The US just prints up the dollars, hands them over to the 130 odd countries where they have military bases and says - here is money for my troops expenses.

Wed, 06/08/2011 - 22:39 | Link to Comment BobPaulson
BobPaulson's picture

Keep in mind that when it comes to that, guess who has the most gold in the world? The U.S.. It's comical actually: rob everybody blind by flooding the world with funny munny only the U.S. can print, then for the icing on the cake, you force a return to a gold standard new dollar and you're the banker again. Wash, rince, repeat.

Thu, 06/09/2011 - 01:56 | Link to Comment Bay of Pigs
Bay of Pigs's picture

"Sorry to inform you Bob, we don't have all that gold."

Robert Rubin

Thu, 06/09/2011 - 13:33 | Link to Comment BobPaulson
BobPaulson's picture

Probably less than they say, but I bet it's still the most.

Thu, 06/09/2011 - 06:21 | Link to Comment equity_momo
equity_momo's picture

WW3 started in 2001. As wars often are , this one is about resources. Youre just waiting for the other big actors to get involved: china and russia. So far theyre biding their time because the US machine is still to be feared. This is the long game - as fossil fuels become more expensive on a relative basis , the US machine will weaken , and when its weak enough to strike , china or russia will pull the plug on the dollar. Thats not for some time though. In the interim , sit back and enjoy more US troops exerting pressure around the World.  As sad as it is , without them your standard of living would be much much worse already.

Thu, 06/09/2011 - 09:06 | Link to Comment Confused
Confused's picture

Standard of living much worse? There are plenty of countries that don't overtly engage in foreign policy similar to that of the US, and their standard of living (and quality of life) is equal to or better (in some cases). 

Thu, 06/09/2011 - 20:06 | Link to Comment equity_momo
equity_momo's picture

They all benefit from the US global hegemony.

Wed, 06/08/2011 - 23:34 | Link to Comment dolly madison
dolly madison's picture

Yeah, Obama's definitely working on WWIII right now with Pakistan.

Thu, 06/09/2011 - 03:25 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

Marc Faber believes an attack or "event" like Egypt would be the catalyst for WWIII scenario.

Wed, 06/08/2011 - 20:21 | Link to Comment buzzsaw99
buzzsaw99's picture

He can matter of factly make those statements because that IS what will happen. There is no wiggle room, no, gee, I wonder what they will do next? More of the same. Book it.

Wed, 06/08/2011 - 20:22 | Link to Comment chump666
chump666's picture

rogers is a legend!

Wed, 06/08/2011 - 20:28 | Link to Comment buzzsaw99
buzzsaw99's picture

Jolly Rogers

Wed, 06/08/2011 - 20:18 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

How long before the talking heads on the squawk box realize all the big financiers and traders think there is no recovery and that there will not be one as long as Keynesian policy is used?

Wed, 06/08/2011 - 20:23 | Link to Comment Dr. Acula
Dr. Acula's picture

It will take a long time indeed for them to realize things that they're paid not to realize.

Wed, 06/08/2011 - 20:44 | Link to Comment wisefool
wisefool's picture

It is difficult to get a man to understand something when his job depends on not understanding it.
- Upton Sinclair

There is only one way out of this. Drop one of the Fed's mandates. It does not matter which one. Humanity has an incredible ability to adapt and thrive. Not to be to arrogant about ourselves, but we are basically the walking,talking, dancing, all singing collection of the best evolutionary traits this world has ever had to offer.

But we need the spiritual stuff. And we will not mature as required as long as we insist on sucking both tits of the fed (price stability, full employment) while the tax code (pile of shit) further smells up the situation, but does not show up on film.

Signed -
Axl Rose, Darwin, A higher power, The Fed, and South Park's Butters.

But seriously. Absolutely must do one of the following:

1. Drop one of the feds mandates.
and/or
2. Fix the tax code.

All the way from the fact that corps have trillions expatriated, to the fact that most strippers get foodstamps, but have cash incomes in excess of $50k/yr. Meanwhile, lots of other people with legitimate jobs are eating ramen noodle they pay for out of their own pocket.

Wed, 06/08/2011 - 20:53 | Link to Comment Dr. Acula
Dr. Acula's picture

The USA did not need the previous two central banks and they do not need this one either.

Nothing bad happened when Andrew Jackson revoked the charter of the Second Bank of United States. The head of that bank, Mr. Biddle, tried to get revenge by monkeying with the money supply to create a recession, but the market quickly repaired the damage once that group of assclowns was shut down. It was hard to shut it down though, since a lot of corrupt politicians were on its dole.

Wed, 06/08/2011 - 21:06 | Link to Comment wisefool
wisefool's picture

<sarc> Andrew Jackson? You mean before the civil war</sarc>

Not everybody at the fed is as ignorant as the Bernake. Not everybody at the Fed is as evil as our current, and past cannibals who ride around in limos (lib and conservative)

And in that same vien I do love Ol'e Hickory above every other president (despite his flaws). But he did have a nation with lots, and lots of precious metals still in the ground and a small enough population to pull it off.

We are not so lucky, and I think if he was alive today he would acknoledge that. Can you imagine him opening up an email from some nigerian price offering 100 Tons of gold if he would only offer up some of USA's blood or land, just so he could facilitate a domestic  gold standard?

Nixon was also right. JFK was also right. They don't build 'em like that anymore, so we gotta leverage what we got.

 

Wed, 06/08/2011 - 21:25 | Link to Comment Dr. Acula
Dr. Acula's picture

No offense, but your post sounds like nonsensical and sentimental rambling; it's hard to see if you are making any point at all.

Wed, 06/08/2011 - 21:31 | Link to Comment wisefool
wisefool's picture

Agreed. I am not as astute as many here. But Did not Jackson have the ability to set up a gold standard? And it was an easily accepted and trusted alternative?

Why didn't JFK do that? I argue that he would of, if he could of, but he could not. He went to the other extreme of bypassing the Fed entirely, and that did not work out either.

I am saying treat the psudo scientists at the Fed like you would any scientist. Let them think they are incharge, but have engineers (us) pick and chose what is implemented. Specifically, drop one of the mandates or the tax code, but let them still participate in some capacity and have joint press conferences with the politicians/TPTB.

Again. I am not very smart about this stuff. So honestly, you don't have to reply.

 

Wed, 06/08/2011 - 21:27 | Link to Comment Freddie
Freddie's picture

No the Fed is evil. 

Where are all the libDem  Obam Hussein a*s boys who post here on Zh defending the Kenyan?  They have been quiet lately - probably texting their weiners.

 

Wed, 06/08/2011 - 21:34 | Link to Comment Dr. Acula
Dr. Acula's picture

>the Fed is evil. 

It's a bastion of pseudoscience.

Perhaps an economist can explain why the price of loanable funds, i.e. the interest rate, needs to be fixed whereas other economic goods, like potatoes, don't need price-fixing.

Wed, 06/08/2011 - 22:10 | Link to Comment WonderDawg
WonderDawg's picture

You seem to have forgotten that the Fed is a privately-held banking cartel. Their science is self-preservation and sucking the wealth from every possible donor.

Wed, 06/08/2011 - 21:35 | Link to Comment wisefool
wisefool's picture

Heh. I think the Fed is "misguided" and that can often manefest itself in evil ways.

 

And I am not a Obama supporter or basher. I think he is a puppet like GWB and Clinton were. My Nigerian reference was to internat scams in the 1990s where people in internet cafes in africa would send a letter soliciting bank account and routing numbers so they could dump tons of money in there and let you keep 10%.

Alright. Maybe the Fed is evil.

Thu, 06/09/2011 - 01:21 | Link to Comment Fiat Money
Fiat Money's picture

yes, the fed IS  evil.

  although, it must be said, that when the chips were down, and they really, really, really had to do a good job - or else!  -   they did a magnificent job of financing US WWII "arsenal of democracy" wartime production (and Manhatten Project, etc.)  HOWEVER - they did it (finance US WWII production) by CUTTING FINANCE overhead & profits to the bone ("mutual sacrifice" don't you know), and TAXING TOP INCOME EARNERS at... 90% !!

     Having just outlined the Fed doing a good job....  it past time that someone pointed out that today (2011) the  gs/jpm/r's Fed is PUSHING AMERICA (and Europe)  into a SECOND GREAT DEPRESSION... and the first was no accident.

Thu, 06/09/2011 - 01:46 | Link to Comment StychoKiller
Wed, 06/08/2011 - 21:47 | Link to Comment jekyll island
jekyll island's picture

previous three central banks...

Thu, 06/09/2011 - 01:40 | Link to Comment Fiat Money
Fiat Money's picture

"Nothing bad happened when Andrew Jackson revoked the charter of the Second Bank of United States"

 whoa, dude!  You've never heard of the "Panic of 1837," the direct result of Jackson's war vs bankers?!    http://en.wikipedia.org/wiki/Panic_of_1837

Not that the Panic was entirely Jackson's fault - read a good article the other day, explaining how the R's INTENTIONALLY SABOTAGED the ENTIRE American economy, by REFUSING American credit paper in London (and other Euro) banks, in revenge for Jackson ending their lucrative money-printing scam (Biddle's 2nd Bank of U.S.)

     However, what is usually LOST in the story of Jackson vs the "den of thieves & vipers" American & foreign (rothschilds) bankers, is that they BOTH SUPPORTED and PROFITED FROM SLAVERY.    Jackson only APPEARS as a populist, "rights of working man" defender...  if you happened to be a fellow white frontiersman. 

When it came to murderously ruthless treatment of slaves (especially escaped slaves) and native Americans ("Indians"),  Jackson did NOT take a back seat to the ruthless rothschilds... 

Wed, 06/08/2011 - 20:59 | Link to Comment QQQBall
QQQBall's picture

Strippers get a pass.

Wed, 06/08/2011 - 20:56 | Link to Comment QQQBall
QQQBall's picture

Strippers get a pass.

Wed, 06/08/2011 - 20:35 | Link to Comment Conrad Murray
Conrad Murray's picture

They know, but they are paid to present a certain view. If they were to rock the boat, Cass Sunstein might find a way to shut them down and have them put in Gitmo. If you listen closely(disgusting, I know), every now and then you'll catch them let something slip.

Exhibit A: Becky Quick calls the Democrat party by it's rightful name, the Socialist party. Listen from 5:45

http://video.cnbc.com/gallery/?video=3000023322

Wed, 06/08/2011 - 20:19 | Link to Comment RobotTrader
RobotTrader's picture

Too bad Jim Rogers doesn't also have a ponytail.

LOL...

Thu, 06/09/2011 - 00:50 | Link to Comment alexdg
alexdg's picture

You used to have irrelevant but pertinant charts and hot chics, what happened? :-( I miss the chics.

Wed, 06/08/2011 - 20:20 | Link to Comment AladdinSaneGirl
AladdinSaneGirl's picture

I've heard that it was the expense of the Second World War led to Britain's loss of the empire. Maybe this is the main root of the debt problem. Who knows.

Wed, 06/08/2011 - 20:29 | Link to Comment Dr. Acula
Dr. Acula's picture

"In our own country, after a century of ceaseless warfare and welfarism, the once-periodic arrival of social, political and economic "hard times" is becoming ominously persistent, looking suspiciously like the pall cast by the lengthening shadows of our errors: international conflict and social decay, amid withering inflation and stagnating growth. Will we, too, join the Aksumites — and so many others — atop the ash heap of history?" http://mises.org/daily/5336/The-Ash-Heap-of-History

Wed, 06/08/2011 - 20:53 | Link to Comment max2205
max2205's picture

What hard times. People live in underwater houses without paying. Get unemployment. Plenty of MCD jobs. SNAP is easy to get. Free abortions. Run credit cards up and don't pay. Qualified now non workers early retired or cruising not paying BS taxes for 12 hours worked 8 hours paid CORP BS.

these are only hard times for fed and state budgets and guess what those budgets are hosed from here till the govt starts making it worth working. Whew

Wed, 06/08/2011 - 21:01 | Link to Comment Dr. Acula
Dr. Acula's picture

>these are only hard times for fed and state budgets

Are you that clueless? Ask people on the street and they can tell you about hard times. By some measures, the average American's quality of life has been declining for about 4 decades. And the government printing up foodstamps doesn't magically conjure food into existence. Such measures do nothing to address scarcity of real resources; they only interfere with economic calculation and further distort the structure of production, hurting everyone overall.

Thu, 06/09/2011 - 03:40 | Link to Comment LudwigVon
LudwigVon's picture

quality of life has been declining for about 4 decades the government distort economic calculation and **therefore** structure of production

+1 I find your replies some of the best on ZH. Also:

"Plenty of MCD jobs"

Incorrect. What was the bid-to-cover on that again? 

Thu, 06/09/2011 - 00:28 | Link to Comment kekekekekekeke
kekekekekekeke's picture

why do you have "free abortions" lumped in there

Wed, 06/08/2011 - 20:28 | Link to Comment Jack Burton
Jack Burton's picture

  The Bernanke is clearly there as a tool of the banking class. It is a waste of time to speculate on his attempts to save the economy and restart growth. If that happens, it will be miracle. The role Bernanke plays is that of a guarantee for the bankers that all their failures will be bailed out by Fed policy and Bernanake has no other true goal than to save the banks and wall-street. The main street economy is just an afterthought to Bernanke. Ask yourself this "How are the compensation packages at the banks looking, what was the bonus season on wall-street like". Those are the issues Bernanke is sent to Washington to oversee. The bailouts, the QE and the ZIRP have worked to meet the financial services industry's goals. Stock Market Bubble-check! Rising profits in specualting on commodities-check! ZIRP money from the discount window for the bankers to speculate with-check!  So banks have booked profits while the real economy is in depression-check!

Bernanke has met the goals of the bloated financial services industry. Thus the compensation for bankers has been at record levels and the bonus pools are fat with cash to reward bankers and trading desk flunkies.

Everything is as it should be in Bernanke's world. Why even bother wondering is his policies can revive the economy. Banks and wall-street are all he cares about or is paid to care about. America's bloated greedy corrupt financial services industry and the politicians they bribe to serve them could never be happier!

Wed, 06/08/2011 - 20:38 | Link to Comment buzzsaw99
buzzsaw99's picture

word

Wed, 06/08/2011 - 22:56 | Link to Comment Reese Bobby
Reese Bobby's picture

Well said and all true IMO.

It was funny watching the Fed messenger boy answer a question from the messenger boy for one on the largest Bank Cartel members.  Dimon tried to act put-upon by the long list of constructive fed actions.  I was hoping Bernanke would slip up and Dimon would scream: "That's not the fucking answer we wrote for you!"  But alas, Bernanke stuck to the script like a good little bitch...with smirk intact.

Thu, 06/09/2011 - 06:55 | Link to Comment island
island's picture

Bingo.  Precisely on-the-mark.

Wed, 06/08/2011 - 20:33 | Link to Comment Eric Cartman
Eric Cartman's picture

The end was great. Ripped the shit out the Bernank. Compared to Rogers, the Bernank is a peasant. 

Wed, 06/08/2011 - 20:39 | Link to Comment Ricky Roma
Ricky Roma's picture

Wow, looks like brilliance is short JPMorons...

Wed, 06/08/2011 - 20:47 | Link to Comment rocker
rocker's picture

Do you have a three sided coin?  JPM, GS and WFC all look the same. Overvalued and Going Down.  Yup.

Wed, 06/08/2011 - 20:39 | Link to Comment chump666
chump666's picture

After this next downleg Keynesian is dead

Wed, 06/08/2011 - 20:38 | Link to Comment Seasmoke
Seasmoke's picture

the Money Honey is already dead

Wed, 06/08/2011 - 21:11 | Link to Comment Dr. Acula
Dr. Acula's picture

Hazlitt already showed a long time ago that Keynes's theories are a logically untenable tangle of fallacies.

But it's doubtful even Keynes the Pseudoscientist would support this insane destruction of civilization at the hands of the loci of corruption called "governments".

Thu, 06/09/2011 - 03:55 | Link to Comment LudwigVon
LudwigVon's picture

He custom built the "system" for the politicians...

 "By this means government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft." 

His work previous to the General Theory was almost a 180. Did he just have to walk the talk to sell the system and reap the benefits during his lifetime?

Oh and link is Hazlitt just shittting on the General Theory in Audio, awesome: http://mises.org/resources/3655/Failure-of-the-New-Economics

Wed, 06/08/2011 - 20:40 | Link to Comment SumSUN
SumSUN's picture

Tyler, how do you know he is short JPM, thanks :)

Thu, 06/09/2011 - 05:55 | Link to Comment John McCloy
John McCloy's picture

I'm guessing it's because he said the bank which has not gone down as much as the others. Cant be bac or GS. He mentioned credit card exposure which JPM has.

Wed, 06/08/2011 - 20:47 | Link to Comment plocequ1
plocequ1's picture

Who cares what Jim Rogers, Bernanke and James Bullard have to say. I listen to the Dollar and right now shes weeping. Shes been abused and neglected. When she goes below 70, Its lights out, over and out, Goodbye 

Wed, 06/08/2011 - 20:48 | Link to Comment topcallingtroll
topcallingtroll's picture

Yeah dollar looking strangely weak.

I sure hope it is a double bottom, sitting here in cash.

Wed, 06/08/2011 - 22:14 | Link to Comment plocequ1
plocequ1's picture

Regardless of how much people talk shit about the Dollar, When its gone only then we will know the importance of it. Its more than just a currency, Its part of our livelihood. My father, Rest his soul worked his ass off for dollars. To  put  it down would put down my father and all the hard work he had to endure.       

Wed, 06/08/2011 - 21:40 | Link to Comment blunderdog
blunderdog's picture

We're going to stop producing food because our farmers are old?  Mmmkay.

Actually, this logic is hugely appealing.  Our politicians are old, too.  Maybe we'll stop producing bullshit in the next decade? 

CNBC guests tend to be old...will we stop producing nonsense economic "analysis" too?

Damn, paradise awaits.  Looking forward to 2021.

Wed, 06/08/2011 - 22:58 | Link to Comment Reese Bobby
Reese Bobby's picture

I have to admit the old farmers bit was odd.  But given Rogers is a billionaire who has been mostly correct for decades I think I'll weight his opinions higher than yours.  Especially until you come up with one...

Wed, 06/08/2011 - 23:29 | Link to Comment blunderdog
blunderdog's picture

I agree with most of what he says, which is what makes it so funny when he says something as crazy as he did about the farmers.

What about you?  You think we're coming up on a big agricultural problem in the US over the next decade? 

Get out in front and buy farmland.  I don't buy it because most of our agriculture only exists as a vertically-integrated and government-subsized industry. 

Good fuckin' luck breaking into that.  But do share.

Thu, 06/09/2011 - 00:28 | Link to Comment Reese Bobby
Reese Bobby's picture

I'm would be the sucker in farmland as I don't know the market.  Some of the most common sense color I have read, and perhaps on ZH is that the most productive farmland in the U.S. isn't really for sale to financial buyers as real farmers don't see a good/safe alternative for potential proceeds; they have an asset that is an inflation hedge and they know it.  All farmland in the U.S. has been driven way up in price with the best stuff quoted at ~25X cap rates, (4% annual cash returns).  The farmland that is actually trading to financial buyers, (potential dumb money), is the marginal land in places like Oklahoma and Texas, for example.

So to answer your specific question, I do not think we are facing a, "big agricultural problem in the US...".  And given each farm state has two Senators and companies like Cargill have tremendous lobbying clout I don't think stupid Government subsidies go away either.  But I also do not agree with your statement that, "most of our agriculture only exists as a..."  We have some of the finest farmland in the world, the most convenient fertilizer supply and transportation/export system.  We are still a key bread-basket of the world.  We haven't messed up that gift from the Lord, yet.

You want to get into farming?  Marry a farmgirl...

Thu, 06/09/2011 - 00:47 | Link to Comment blunderdog
blunderdog's picture

We've got more corn than we know what to do with, which is why it's used as packing material, feed for livestock that shouldn't eat corn, EVERY food-product that comes in a box, fuel for overpriced furnaces, and cat litter.  Meanwhile, overfeeding the underemployed and pumping an extra few hundred calories of corn-syrup into every American's diet has resulted in a population which can't get out of its own way or fit on a bicycle or get into a small car.  We're probably going to have start expanding our malls soon.

Tell me that's not government malinvestment all the way.  If the corn farmers hadn't been subsidized for the past 80 years, we'd never have dug that particular hole so deep.

Current US agribusiness is a curse, not a blessing.  We don't owe the world cheap food, which is good, because if (as I expect) our energy costs continue to climb, we're going to stop producing it.

And let me tell you: if a poor schmuck like me can't afford red bell peppers because they're coming in to my area from fucking HOLLAND, I'd say let's stop pretending we're doing that shit so well.

Thu, 06/09/2011 - 01:36 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The small and medium-sized farmers will never get truly wealthy. In fact, they'll be screwed over at every single turn by Wall Street, via funny (and many of them illegal) games, played upon them using intermediaries before the crops are even picked or livestock even slaughtered.

Jim knows this. Place your bets as to why he yaps about the generic farmer somewhere driving a Ferarri.

All incremental units of true wealth from farming will flow to the pigmen, and the farmer will get the crumbs, no matter the price of the underlying crop.

Thu, 06/09/2011 - 04:10 | Link to Comment Nage42
Nage42's picture

BaZinga!

+1

Thu, 06/09/2011 - 09:11 | Link to Comment Reese Bobby
Reese Bobby's picture

Hey, I admit to being no expert on farming.  But I can observe in the last twelve months corn is +114% in price, wheat +45% and soybeans +49%.

It sounds to me like you resent the inefficient use of farmland relative to end-use demand in the U.S.  I don't doubt that Fed subsidies account for some of that distortion.

As I type this the corn report came out disappointing and prices looking to be heading higher again.

You don't care about the rest of the world and that is your right.  You might want to be thankful you live in the U.S. as higher basic crop prices are a life and death issue in the poorest Countries, not a bell pepper issue...

Thu, 06/09/2011 - 11:06 | Link to Comment blunderdog
blunderdog's picture

I only "resent" use of government intervention as a method of redistributing the wealth of private citizens to our largest and most profitable companies which, ultimately, do not share the interests of the citizenry.

The fascism is what bugs me.  The misallocation of resources is an effect, not a cause.

Thu, 06/09/2011 - 03:34 | Link to Comment Reptil
Reptil's picture

Oh yes you have (messed it up) :(

http://www.vimeo.com/22997532

http://www.scribd.com/doc/57277946/RoundupandBirthDefectsv5

I don't believe in the "incompetence" theory. It's like mr. Rogers said about banks, he's dropping little hints, but is not going to kick anyone in the shins for one lousy interview with a hoarse chick.

Thu, 06/09/2011 - 01:42 | Link to Comment Baptiste Say
Baptiste Say's picture

Farmland is not an inflation hedge.

 

Forgetting the fact that YOU  don't even have the first clue on how to produce crops and make a profit (avg Joe would likely plant $1m of seeds and kill them) farming is is strongly reliant on:

1) low oil oil prices

2) widely available credit (to finance seeds and pay wages between harvests)

3) a prosperous society (consider that beef is easily substituted for chicken/pork, quality oils/nuts for cheaper ones etc)

4) farm subsidies (in inflation/hyperinflation these subsidies will come under threat).

 

http://gonzalolira.blogspot.com/2011/05/spg-supplement-is-farmland-smart...

Thu, 06/09/2011 - 01:41 | Link to Comment Baptiste Say
Baptiste Say's picture

And don't forget (as a commentator on my link notes) farmland is likely to suffer from nationalisation and price controls in hyperinflation.

 

Ag futures/options and ag chemicals might be good investments, land is not, it's a passion and/or hard toiling job.

Wed, 06/08/2011 - 20:46 | Link to Comment topcallingtroll
topcallingtroll's picture

I was stupid enough.to fully understand the administrations next stimulus and post yesterday it would be a temporary tax cut as the only thing republicans would allow.

Looks like obama follows the troll too!

Wed, 06/08/2011 - 20:43 | Link to Comment max2205
max2205's picture

I haven't enjoyed the 3% stealth tax on my savings. Bendover

Wed, 06/08/2011 - 20:47 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

I dig the talk about the overseas military bases.........100 of them in Italy alone.........for what........?

 

We have spent $5.5 trillion just on nuclear weapons since the 1940's..........http://www.brookings.edu/projects/archive/nucweapons/schwartz.aspx

what a waste of fiat money.....

 

Wed, 06/08/2011 - 21:03 | Link to Comment High Plains Drifter
High Plains Drifter's picture

the us army never leaves. so , then, perhaps one might notice what the us army is really all about in this world, these days. a occupying force.

Wed, 06/08/2011 - 20:47 | Link to Comment viator
viator's picture

Feri Downgrades the Creditworthiness of the United States
By Harald Weygand
Wednesday, 06.08.2011, 08:56

Homburg, 8 June 2011 - The Bad Homburg €uro Feri Rating & Research AG downgraded the first credit rating agency's credit rating for the United States from AAA to AA. Feri analysts justify the downgrade by the continuing deterioration of the creditworthiness of the country due to high public debt, inadequate fiscal measures, and weaker growth prospects.

"The U.S. government has fought the effects of the financial market crisis primarily by an increase in government debt. We do not see thank that there is sufficient attention being paid to other measures, "said Dr. Tobias Schmidt, CEO of Feri Rating & Research AG €. "Our rating system shows a deterioration in economic health, so the downgrading of the credit ratings of U.S. is warranted."

For the third consecutive year the deficit of the United States is in double digit percentages relative to gross domestic product (GDP). "Deficits of such magnitude are not a sustainable fiscal policy.  We would reconsider the rating when the U.S. government creates a long-term sustainable budget," said Schmidt.

Feri Rating is listed on the Federal Financial Supervisory Authority (BaFin) as an EU credit rating agency approved and created with more than 20 years experience in sovereign ratings. Every month, the Feri analysts evaluate sovereign credit ratings from the perspective of a foreign investor based on the ability and willingness of countries to repay their debts. The credit ratings have eleven possible gradations between "AAA" (best credit) and "Default".

About Feri Rating & Research AG
Feri Rating & Research AG is a leading European rating agency for analysis and evaluation of investment markets and products and one of the largest economic forecasting and research institutes. Currently, the company with about 50 employees and has approximately 1,000 customers in addition to its headquarters in Bad Homburg with offices in London, Paris and New York.

http://www.godmode-trader.de/nachricht/Feri-stuft-die-Bonitaet-der-USA-h...

Wed, 06/08/2011 - 20:49 | Link to Comment bob_dabolina
bob_dabolina's picture

In exchange for the goods we get from China, what does China get?

Wed, 06/08/2011 - 21:01 | Link to Comment BigJim
BigJim's picture

Every bit of the short-lived crap they send us is exchanged for short-lived fiat.

Seems fair to me.

Thu, 06/09/2011 - 00:50 | Link to Comment alexdg
alexdg's picture

Funny and true! I think they are aware of the hit they're in for thou...

Wed, 06/08/2011 - 21:10 | Link to Comment LongBalls
LongBalls's picture

Worthless paper as a cost of doing business while they learn how to reverse engineer and proficiently manufacture.

Wed, 06/08/2011 - 21:48 | Link to Comment bob_dabolina
bob_dabolina's picture

Let's assume the US defaults...

China is the biggest loser. 

They get nothing. We get their shit that theyve been exporting to us.

Wed, 06/08/2011 - 23:00 | Link to Comment Reese Bobby
Reese Bobby's picture

China probably owns the company you used to work for.

Wed, 06/08/2011 - 23:15 | Link to Comment bob_dabolina
bob_dabolina's picture

Probably not.

Thu, 06/09/2011 - 02:14 | Link to Comment faustian bargain
faustian bargain's picture

They get to rebuild. We get to eat our iPads.

Thu, 06/09/2011 - 06:38 | Link to Comment css1971
css1971's picture

You get

  • cheap crap

they get

  • paper,
  • training,
  • modernisation
  • manufacturing,
  • industrialisation.

Then they spend the paper on

  • oil
  • steel
  • copper

America is creating it's replacement in the world theatre. I wonder if they'll say thanks.

Wed, 06/08/2011 - 20:53 | Link to Comment ebworthen
ebworthen's picture

"Draconian Measures"

= You won't be able to withdraw from your IRA or 401K (except to make a mortgage payment directly to GMAC, Fannie/Freddie, FHA or your medical bill at your local Corporate Hospital).

= Kiss Medicare and SS goodbye completely

= National VAT and sales taxes

Thu, 06/09/2011 - 00:49 | Link to Comment alexdg
alexdg's picture

It'll happen, be it the fast way (getting cut right away), or the slow way (devalueing the dollar).

But politicians don't want social unrest, so I'm betting the "slow way".

btw: i'm talking about pensions, SS, medicare etc.

Wed, 06/08/2011 - 20:54 | Link to Comment QQQBall
QQQBall's picture

Maria must take her chair with her when she goes to the crapper, lest some younger money honey snatch her seat.... Shows up with a voice like that; she definitely afraid of getting the boot.

Wed, 06/08/2011 - 20:58 | Link to Comment High Plains Drifter
High Plains Drifter's picture

man i was sitting there listening to mr bowtie and i couldn't believe she even showed up for work with that voice. the problem is, the more you use it, the worse it gets. she should be at home, resting........thing like that might take a week or more....

Wed, 06/08/2011 - 21:11 | Link to Comment buzzsaw99
buzzsaw99's picture

i hope she gave liesman a good case of strep.

Wed, 06/08/2011 - 21:35 | Link to Comment topcallingtroll
topcallingtroll's picture

I am totally in love with maria.

She is my favorite.

Wed, 06/08/2011 - 20:57 | Link to Comment urbanelf
urbanelf's picture

Quantitative Cupcakes!!!

Wed, 06/08/2011 - 20:59 | Link to Comment Eireann go Brach
Eireann go Brach's picture

I bet if Jim could he would like to bang old Maria, she does look like she could suck thwe door knob of a door! Poor Bernanke, he should just quit and say "Obama, fuck you and your re election, I am off to hit the crack pipe again"

Wed, 06/08/2011 - 21:02 | Link to Comment digalert
digalert's picture

Wow, I can't believe CNBS allows a voice like Jim Rogers be heard. Could CNBS be admitting that the current regime, er uh economy is a failure?

Wed, 06/08/2011 - 21:04 | Link to Comment Miles Kendig
Miles Kendig's picture

Rogers is short JPM.  That's what's new

Thu, 06/09/2011 - 03:41 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

I guess he believes In Max Keiser's 'crash JP Morgan buy silver campaign.

Thu, 06/09/2011 - 17:16 | Link to Comment Miles Kendig
Miles Kendig's picture

Or .. that he thinks that JPM's RRE positions, especially those inherited from WaMu are gonna cause markdowns over the next couple of quarters as the table gets set for the fed to run a new asset purchase program.

Wed, 06/08/2011 - 21:12 | Link to Comment High Plains Drifter
High Plains Drifter's picture

you should own more silver............oh my.............

Wed, 06/08/2011 - 21:13 | Link to Comment mfoste1
mfoste1's picture

this is great, thanks for the post TD :) "he doesnt know currencies, he doesnt know markets, he doesnt know economics, all he knows is printing money!" hahah gotta love JR

Wed, 06/08/2011 - 21:24 | Link to Comment ebworthen
ebworthen's picture

 

Rogers "I'm short the bank of my 'friends' at J.P. Morgue" = smackdown of Jamie Dimon's faux b.s. question for the Bernank.

I hope WB7 is working on a whining Dimon in baby boots, a diaper, and a rattle.

 

Wed, 06/08/2011 - 21:35 | Link to Comment bob_dabolina
bob_dabolina's picture

I think Jim Rogers is wrong on ALL counts. 

Wed, 06/08/2011 - 22:04 | Link to Comment nathan1234
nathan1234's picture

Sure. And Obama,Ben & Timmy right on ALL counts.

Wed, 06/08/2011 - 22:46 | Link to Comment lawrence1
lawrence1's picture

I think you are an ass because almost everything you say is assinine.

Thu, 06/09/2011 - 00:05 | Link to Comment bob_dabolina
bob_dabolina's picture

*asinine

Wed, 06/08/2011 - 23:04 | Link to Comment Reese Bobby
Reese Bobby's picture

You could be right Kaczynski.

 

You could also be a man trapped in a woman's body.

 

Most things are technically possible...

Thu, 06/09/2011 - 04:07 | Link to Comment LudwigVon
LudwigVon's picture

WTF is wrong with you. Then explain the points and why they are wrong. Add to the community dipshit.

Wed, 06/08/2011 - 21:40 | Link to Comment Hurdy Gurdy Man
Hurdy Gurdy Man's picture

"we should cut taxes, and cut spending to the bone" - huh?

blead-the-beast in a bowtie

Wed, 06/08/2011 - 21:42 | Link to Comment Arnolds Love Child
Arnolds Love Child's picture

I remember Maria interviewing Jim back in 2004. She said; "Jim, what about gold? It's had quite a run up to $395 this year, is it time to sell?"

Jim made a face like someone had waved a piece of dogshit under his nose and said; "No,No,No, Maria. Ahm not sellin' any of mah gold." Priceless. Fricken seven years ago.

Thu, 06/09/2011 - 00:47 | Link to Comment alexdg
alexdg's picture

Funny that he's saying the same thing today... I wonder what Gold will be in 7 years time.

Wed, 06/08/2011 - 21:47 | Link to Comment zen0
zen0's picture

So where else do you want to be long ?- Bartiromo

In your pants - Rogers

Wed, 06/08/2011 - 22:00 | Link to Comment zen0
zen0's picture

+ 1

Wed, 06/08/2011 - 22:01 | Link to Comment blunderdog
blunderdog's picture

How many accounts you run here, asshole?

Wed, 06/08/2011 - 22:25 | Link to Comment zen0
zen0's picture

Are you some kind of moron, dipshit?

All I had to do was reply to myself, because it amused me. If you knew how the internet worked yu cud reply to yerselF 2.

 

retard.

Wed, 06/08/2011 - 22:26 | Link to Comment blunderdog
blunderdog's picture

Does mommy know you're on the computer unsupervised?

Wed, 06/08/2011 - 22:47 | Link to Comment zen0
zen0's picture

You got caught out being a jerk so you decide to go lame.

busted.

Wed, 06/08/2011 - 22:54 | Link to Comment blunderdog
blunderdog's picture

You got me, you proved I'm too stupid to understand how this board works.  My sincere apologies. 

Nothing lame about anything you've gifted us with tonight.  You're the cool guy, as you've demonstrated with your humor.  Thanks.

Wed, 06/08/2011 - 22:54 | Link to Comment zen0
zen0's picture

You're welcome.

Wed, 06/08/2011 - 22:08 | Link to Comment delacroix
delacroix's picture

you can't see how fat her ass has gotten, in the last few years. she's a pig.   (no disrespect intended)

Wed, 06/08/2011 - 22:06 | Link to Comment Buck Johnson
Buck Johnson's picture

I forgot about the election next year, they can't have a bad economy during an election year.  I think what they will do is to cut more taxes and in turn the republicans will allow for a QE3 and keeping SS and Medicare off the table until after 2012.  It will destroy our economy faster, but maybe faster is better.  This chinese water torture is doing more harm than good.

Thu, 06/09/2011 - 00:45 | Link to Comment alexdg
alexdg's picture

True, i don't think the Fed wants to get into politics and harm a President and break his relection.

 

Thu, 06/09/2011 - 01:39 | Link to Comment TruthInSunshine
TruthInSunshine's picture

True, i don't think the Fed wants to get into politics and harm a President and break his relection.

Paul V. f*cked Carter's chances up really solidly.

Wed, 06/08/2011 - 22:10 | Link to Comment Dr Zaius
Dr Zaius's picture

They can’t quadruple the debt again.

Famous last words.

 

Thu, 06/09/2011 - 07:00 | Link to Comment island
island's picture

Agreed!  If it can't be imagined by rational minds, it's very possible we'll see it happen.  That's what's so Orwellian and frightening.

Wed, 06/08/2011 - 22:11 | Link to Comment dot_bust
dot_bust's picture

Jim Rogers is Mr. Obvious. I didn't need him to tell me that Bernanke is Fuknuts!

Rogers loves to tell us how he's positioned in commodities, Dollars, etc. But he always points us in the wrong direction. Why? He's a billionaire. You'd have to be stark raving mad to trust a billionaire. He's not in business to help other people make money. He's in business to steal other people's money.

This mathematical dick should hang himself with his bow tie. And I've got news for him, I'd wilingly pee on anyone who wears a bow tie.

 

 

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