Jim Rogers Blasts "This Is Going To End Badly... And The Rest Of The World Knows It"

Tyler Durden's picture

The only thing exceptional about the USA is "its the largest debtor nation in the history of the world" is how Jim Rogers begins this brief interview with RT and he doesnt back away from the rhetoric. The sad truth, he notes, is that the US "has been kicking the can down the road for years..." how do you think we got so much debt, he chides. "Every year that goes by we go deeper and deeper into debt," adding, rather ominously, that it "will be solved one way or another." They will kick the can once more; then next week, we will be told that the problem is fixed and compromise is here. However, Rogers warns, eventually the market is going to turn away; "this is going to end badly... and the rest of the world knows it."

 

For some clarifying thought before an onslaught of headline hockey in US equity markets, Rogers comments are a must view to comprehend the game we are playing...

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fonzannoon's picture

Rogers owns the dollar and also says gold is heading to $900.....

tsx500's picture

>>>>> Jim Rogers, True American Patriot

>>>>> BHO , True American Patriot

Arius's picture

yes, we are all patriots ... correct me if i am wrong but isnt this the same Jim Rogers who was the partner of old George Soros back then ... 

playing with mirrors my man is the same people, dont expect me and you to have the camera in our face, enjoy your ZH posts ...

LetThemEatRand's picture

It's important to keep in mind that it's not what they do, it's what they say.  Or look in the mirror on that one and it will make more sense.  Jim does say some good red meat shit, though. 

Arius's picture

yes, he does, its all part of the package...dont expect though to tell you the whole deal. the same goes for Soros ... they are made of the same cloth ..

red team blue team version of the financial world ...

Landotfree's picture

Jim Rogers is correct, it's not going to end well for a bunch of walking unfunded liabilities... a lot of of them are going to be liquidated this time.   But I would correct him in saying the system is built on kicking the can as far and as long as possible... I have no idea what his point is.   The last place I would want to be is in Asia with a 4 billion population there Jimbo.... good luck to ya.   Everything is working as planned... expand, fail to expand, collapse and then liquidation of the walking unfunded liabilities.

Boris Alatovkrap's picture

Reagan is create Voodoo Economics, but Obama is create Zombie Economics.

GetZeeGold's picture

 

 

Reagan reminds me of my grandad.....Obama reminds me of my local pimp. Except even the local pimp doesn't lie that much.

 

Obama needs his own version of Ground Hog Day......where everything he says has to be the truth....talk about a living nightmare for the guy!

Element's picture

 

 

"This Is Going To End Badly"

People really need to a new line, this one is worn-out to the point of meaninglessness.

kralizec's picture

Easy for someone to say in Bankok surrounded by cheap booze, cheap drugs and cheap whores...

1000 splendid suns's picture

Watch the latest video by Maloney over at goldsilver and you'll realize this is just more financial doomporn. The only way to change the debt problem is to change the monetary system. We have a debt based society and the ones driving the turnip truck don't see it as a problem.

Againstthelie's picture

While sane people will agree what Rogers say, it is absolutely correct that Rogers also doesn't touch the real core of the problem: debt based money with compound interest needs exponential growth.

But look how stupid the masses are. They don't even recognize that the two parties are only two sides of the same coin. Then there are the more clever ones like Rogers, who know that it's all a charade. And how tiny is and always will be the fraction, that is interested in the fact, that the western monetary system with private banks creating debt based money from thin air?

I more and more tend to believe, that the human species is an evolutionary blind alley: the mass is way to stupid to recognize what is going on, while a few use this stupidity to establish and perpetuate the Plutocacies.

There is no hope.

 

GMadScientist's picture

The word for today is: bifurcation. What you see is the beginning of the same separation between humans and the great apes happening again within the human population. Reinforcement of genetics along racial and socio-political lines will induce one population that looks more like the people you see in Wal-Mart and one population that possesses critical thinking skills and enough forebrain to avoid jail.

Which of these two populations remains after a few hundred years is the real question before us.

redpill's picture

Jim Rogers lives in Singapore

Headbanger's picture

Boris is say best I see of Obama economics. Laughing me so much now!

rbg81's picture

What Mr. Rogers leaves out is that the rest of the world is doing exactly the same thing.  There are a few exceptions (Germany, Russia, China), but for the most part the world is drowning in debt.  That fact, more than anything else, is saving our bacon--for the moment.

buyingsterling's picture

5 people so far think Obama is a patriot. WTF? You can call him many things, but a patriot? Please.

Boris Alatovkrap's picture

Boris is mistake Obama for parrot, maybe other who is vote is also to think same?

Ruffcut's picture

Now Tom Brady is a patriot, all others in it for themselves, just per usual. Those who like to kick the shit out of people for their own giggles are the ones who will enjoy the coming clusterfuck.

Patriots, capitalists etc more like denialists and idiots.

GMadScientist's picture

Fuck the Foxborough Fascists.

kralizec's picture

Perhaps Boris mean "puppet"...as in "hand" or "butt"...

NoDebt's picture

In 10 years we'll be staring down 200% debt/GDP and having the same conversations.  (Japan is over 200% right now and they recently nuked themselves.  Still the spice flows.)

Keyser's picture

Any reference to Frank Herbert gets an up arrow from me. 

Chaos_Theory's picture

F-ing Harkonnens downvoted you Muad'Dib.

FrankDrakman's picture

Still the best on-screen performance by Sumner.

GMadScientist's picture

Does this mean the OMB are the space navigators?

greatbeard's picture

>> gold is heading to $900.

I think what Jim actually said is gold could go as low as $900. Rather than making a specific prediction he was covering all his bases, like they all do.

LetThemEatRand's picture

I bought when Jim said to buy.  Now that I know better, I'm buying more because he's saying it's going down (with my tattered assets left over after listening to Jim).  In the end he'll get to say "I told you so" some day when gold is very much higher.  The fact that he gained profit from selling to the sheep during the slamdown period will be forgotten.

fonzannoon's picture

I like rogers....but he says buy a farm. Kyle bass says own an oil well or an apartment complex, Faber says own every flavor of ice cream and Schiff's brokerage company is happy to sell me fdic "insured" brokerage cd's linked to some hot dogshit index.

so if u are buying gold u better be doing so based on your own beliefs.

LetThemEatRand's picture

I have to admit I was snowed by the Rogers/Bass/Schiff mantra.  Still up on the PM investments though I lost my ass big time on shorting the stock market thanks to these guys.   I own physical (and some PM paper sadly for trading) because of my own beliefs.

fonzannoon's picture

well at least u can call it like u see it. That's going to help you more than anything any of these guys will do for us.

acetinker's picture

...because of my own beliefs.  You stay true to that, Rand.  Whatever that entails, because in the end, it's all we have.

El Tuco's picture

Don't fight the FED. You won't win. Cash is not a bad place to be. Buy with both hands when the world is ending and the market rolls over. The only way you're going to get rich off gold is turning it into trinkets and selling it to my wife...

 

Teddy Tenpole's picture

 

Hey, all these boomer doomer douche bags will lose you your money ;)

TWSceptic's picture

If you sell at the wrong time then yes. But that's your responsibility, not theirs.

GMadScientist's picture

If their advice is useless, why do they keep putting mics in their faces then?

Jim Rogers, like anyone else you've seen on TV, is selling; that's what those cameras are for.

"All you read and wear or see and hear on TV is a product begging for your fatass dirty dollar;  shut up and buy, buy, buy,...send more money!" - Tool, Hooker with a Penis

dannyboy's picture

Lole, clearly didn't listen to zerohedge then :) They are long-term investors, not short term traders.

Eventually they will be right, so if you put your money there and come back in 10 years yes they will be right. As for the inbetween, theres Zerohedge :).

TWSceptic's picture

Schiff never recommended anyone to short the stock market. Actually he predicted that stocks would go higher because of inflation. Take responsibility for your choices.

One World Mafia's picture

That is true, but on a short term basis he's speculated on air many times, right after gold and oil went up, that it looked like they were setting up to go higher.

As for longer term he's seen many crashes ahead for stocks when the time comes for the country to face its problems, but then wouldn't gold go down for the same reason?  What would drive it back up is if China backed its currency with it.

Bokkenrijder's picture

All these guys (Faber, Rogers) are IMHO total charlatans. They are masters in remaining vague and covering all angles, so that after a while (whilst whoring on CNBC!) they can alsays say: "look, I was right!"

If Gold bottoms tomorrow and goes up, people like Rogers will say: "well, I only said it could go all the way down to $900, I never said it would," while if it craters and plunges (even more...wink wink) towards $1000 they pat themselves on their shoulders whilst talking to some CNBC/Bloomberg Asian cutie saying "well, I just knew that this was coming."

So Rogers is suddenly relatively positive on the Dollar, while for years he's been saying "I'm soon gonna sell my remaining Dollars?" What happened to farmers driving Maseratis? Same for Faber, who after years peddling Gold, suddenly no longer sees a safehaven and who, by the way, charges U$D for his Dollar-gloomy newsletters?

Let's face it, if there is really no safehaven left, then what do we need these clowns for...?!?!

The only person who, to some extend, has been fairly consistent in his long term outlook is Peter Schiff.

Eric King's KWN and Turd Fergusson are too pathetic for words, they have been calling for a bottom in Gold all the way down since $1900,-  When PM's go up then their 'market calls' were correct, if it goes down they call it "manipulation." Hahaha, must be easy to run a conspiracy theory blog that way!

Let's be realistic, if it can be manipulated down, then it can also be manipulated up, right?

The thing I really like about precious metals is the lack of counter party risk, but let's not get carried away too much thinking that gold is the panacea for all the world's economic ills.

johny2's picture

the sobering thought is that the top 8.4% of the population own over 80% of the assets. And there is enough weapons to keep it that way until the nature or God decides enough is enough. It may be more comfortable to be in these 8.4% ( and apparently even 100000 usd gets you there ) but for sure it shows how tough life is for the dispossesed.

quasimodo's picture

Every now and then, if in need of some great comedic relief(and you don't mind clicking 10 links to get to a story), I will tune into KWN. I'm sure it's really great if one had access to a joint or two.

GMadScientist's picture

The theoretical possiblity of manipulating metals upward is meaningless in the face of banks with derivatives piled to the sky based on their ability to synthesize naked shorts to guarantee their viability.

 

One World Mafia's picture

Schiff's economics theories are spot on, but everytime gold and oil go up, he jumps up & down with glee like this is the big one...they look like they're set for a big upswing.

He's only human.  Don't bet more than you can afford to be without.

He does a lot to put the word out.  I give him a lot of credit for that.

Tall Tom's picture

I refuse to play in the Peper Market because it is a fraud. I refuse to buy Stocks and Bonds because it is a Fraud.

 

Unfortunately the Paper US Dollar is also a Fraud. I have told my Coin Shop Dealer that I am using a Fraudulent exchange for the Metal that I acquire. He understands that it is a fraud but accepts my Currency anyway.

 

Not only that I tell the Clerks at the local Grocer that the money I am tendering is a Counterfeit, a fraud, and a sham. Most look at me with their empty, vaccuous Zombie eyes and take my Currency anyway. I repeat the same process with any Clerk or any store which I frequent. They think that I am a nut. I really do not care what they think.

 

You must understand that I expose the fraud for what it is. If they choose not to heed my warnings then it is THEIR CHOICE.

 

I tell them so that my conscience is clear and I can sleep much better at night. FULL DISCLOSURE and TRANSPARENCY is not a Fraudulent activity. That is ETHICAL BEHAVIOR in any transaction.

 

So why actively participate in any Paper Market when you know that it is backed by Fraud? Well one does HAVE TO EAT.

 

But you can minimize your involvement and expose the Fraud to everyone that you know and everyone that you make acquaitance.

 

Who cares if they think that you are a nut. It is not about what they think at all. You look at yourself in the mirror. You live with yourself. Don't you have a conscience?

 

This is NOT DIRECTED AT YOU PERSONALLY. You may do what I do. I do not know.

 

But it is something that I want everyone TO CONSIDER. Think about it.

Kirk2NCC1701's picture

The more I see what's going on in the markets, Wall St and the Fed, and the more I ready ZH, the more I realize that the only "assets" to diversify in are those close at hand and w/o 3rd party counter risk.

I'm also realizing that "Market" investments are not for most people.  If you want to grow your wealth, it better be through your own efforts:  Savings or own business.  Fuck the Markets!  Whatever hell that comes is of their own making.  Karma is a bitch.

Keyser's picture

Jim has made that $900 call several times recently, but in the context of a correction from the run since 2000. He also said it would go much, much higher when the SHTF. With the way the monkeys are pulling the levers in DC, that could be any day now.