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Jim Rogers Cautions "Be Prepared, Be Worried, And Be Careful... This Is Going To End Badly"

Tyler Durden's picture




 

"Eventually, the whole world is going to collapse," Jim Rogers chides a disquieted CBC anchor as he explains the reality that, "we in the West have staggering debts. The United States is the largest debtor nation in the history of the world," adding that "this is going to end badly."

However, the co-founder of Soros' Quantum fund is convinced that the commodity super-cycle is far from over, but driven by supply constraints (and cost increases) as opposed to demand from higher growth. The following interview provides more color on his commodity view as he re-iterates his bullish stance on Ag (with sugar a focus) and Natural Gas (some harsh natural realities coming), warning "don't get too excited about fracking," when he talks energy products.

Rogers, in his inimitable way, sums up the state iof euphoria that many markets find themselves in thus, "we are all floating around on a sea of artificial liquidity right now. This is not going to last."

 

On the end of the commodity super-cycle:

Commodities have pulled back, but I would remind you that in all bull markets there are periods of correction.

 

In 1987 – during the great bull market in stocks – stocks went down 40 to 80 per cent around the world; again in 1989, 1990, 1994, etc. Every time people said the bull market’s over, but it wasn’t. I think that’s what’s happening with commodities now.”

On the next crisis:

"2008 was so much worse than 2000 because the debt was so much higher, you wait until 2014 or 2015 when the next crisis hits...

 

debt has gone through the roof, the next one's gonna be really bad"

His final words:

"Be prepared, be worried, and be careful"

 

 

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Wed, 12/04/2013 - 21:45 | 4216010 The Gooch
The Gooch's picture

Me know math.

 

 

Wed, 12/04/2013 - 21:56 | 4216052 Supernova Born
Supernova Born's picture

Once it ends it will finally be over.

Wed, 12/04/2013 - 22:31 | 4216107 hedgeless_horseman
hedgeless_horseman's picture

 

 

In The Sermon on the Mount (Matthew: chapters 5, 6, and 7) Jesus tells us to not worry. 

Apparently, Jesus was, is, and shall always be a bull.

http://www.biblegateway.com/passage/?search=Matthew%205&version=NIV 

Wed, 12/04/2013 - 22:50 | 4216217 Buckaroo Banzai
Buckaroo Banzai's picture

Jesus is indeed the ultimate bull; but he is not bullish about this world, but the next one.

36 Jesus answered: My kingdom is not of this world. If my kingdom were of this world, my servants would certainly strive that I should not be delivered to the Jews: but now my kingdom is not from hence.
--John 18:36

Thu, 12/05/2013 - 00:04 | 4216446 markmotive
markmotive's picture

If China's growth slows (or is slowing) what does that mean for the commodities super-cycle?

http://www.planbeconomics.com/2013/07/jim-rogers-on-commodities-agricult...

Thu, 12/05/2013 - 00:27 | 4216528 bunzbunzbunz
bunzbunzbunz's picture

It means bitcoin will go to 1 Million!!!!! Get some free before it does!!!! http://freebitco.in/?r=25727 !!!!!

Thu, 12/05/2013 - 03:21 | 4216774 BKbroiler
BKbroiler's picture

"Eventually, the whole world is going to collapse," 

I like that there's respected investors talking like this.  I think it means we're nearing the end, but it won't be during O's term.  The ultimate irony is that he, champion of the poor and great redistributor, will end up having made the top 1% richer than any republican could ever dream of.

Thu, 12/05/2013 - 10:25 | 4217377 Rafferty
Rafferty's picture

Obama didn't DO anything.  He's a stuffed shirt, an autocue reader, a dummy with the banksters' hand up his ass.

Thu, 12/05/2013 - 12:23 | 4217755 LosOsos
LosOsos's picture

A dummy with the banksters' hand up his ass

 

You sir just inspired some street art

Thu, 12/05/2013 - 12:29 | 4217780 vxpatel
vxpatel's picture

What exactly has Obummer done for the poor, or for wealth redistribution? The rich are richer, far richer, under him.

Thu, 12/05/2013 - 02:40 | 4216744 BringOnTheAsteroid
BringOnTheAsteroid's picture

Exellent, let's get about destroying this world, all the christians want this right? Jesus said so, the earth is not not his kingdom. Christians want to be with jesus right, so if the earth is destroyed doesn't really matter.

I think this all sounds good on paper until fire and brimstone is raining down hell on all the christisans children whose flesh is being burnt from their very bones and they scream in agony until their voice box ruptures and the parents look on with that calm smile knowing that jesus awaits with open arms.

 Doesn't really add up does it.

Thu, 12/05/2013 - 05:35 | 4216866 quasimodo
quasimodo's picture

Yes, that is the utopian ending that all Christians strive for lol. 

FYI there are many Christians that are excellent stewards of the earth.

Thu, 12/05/2013 - 08:29 | 4217102 General Decline
General Decline's picture

"my servants would certainly strive that I should not be delivered to the Jews"

 

Wait just a minute... was Jesus an anti semite???

 

Tylers: Do the right thing and ban Jesus from ZH immediately.

Thu, 12/05/2013 - 14:40 | 4218427 Redhotfill
Redhotfill's picture

When Jesus is banned will he be sitting next to Francis Sawyer?

 

Save Ferris...  I mean Save Francis!

Wed, 12/04/2013 - 23:25 | 4216327 threeputting
threeputting's picture

Do we really need to know every time Jim Rogers utters this exact same phrase to yet another reporter?

I swear this must be the 50th post in recent months about this exact same statement from Rogers.

Wed, 12/04/2013 - 23:41 | 4216384 rbg81
rbg81's picture

The thing about commodities is that they will always have inherent value--they will never be worth zero.  Can't say that about fiat currency.

Thu, 12/05/2013 - 02:03 | 4216710 Againstthelie
Againstthelie's picture

True, but do never underestimate the power of a collapsing credit bubble.

In 1929 US farmers were burning down the fields, because the prices were so low, that the harvest would have been more expensive than to burn it.

We could see this again and in that (maybe very short) time you need cash to buy while all others are FORCED to sell.

Thu, 12/05/2013 - 14:05 | 4218244 August
August's picture

>>In 1929 US farmers were burning down the fields, because the prices were so low....

Before commerical refrigeration, flocks of New Zealand sheep were at times driven off of cliffs after shearing; the meat wasn't worth the cost of butchering.

Thu, 12/05/2013 - 21:22 | 4219983 Againstthelie
Againstthelie's picture

OMG how awful.

The human species is the worst of all.

Wed, 12/04/2013 - 23:42 | 4216386 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Yeah, but how many farmers are there under 56?  

 

I don't think Rogers has said anything at all knew in about four years.  Gotta give him props for saying that gold was due for a big correction a few years back though.  

Thu, 12/05/2013 - 02:03 | 4216693 Againstthelie
Againstthelie's picture

edited - wrong place

Thu, 12/05/2013 - 00:34 | 4216549 buttmint
buttmint's picture

ThreePutt....you got it! And we also have to hear Rogers explain for the 75th time that his daughters are learning Mandarin---and that we are not with it! Hhahahaha!

The guy is a broken clock, correct twice a day. Rogers is doing all the interviews to pay for the tuition bills for his daughters in Singapore. Must be nice....

Thu, 12/05/2013 - 02:01 | 4216704 Againstthelie
Againstthelie's picture

Do you prefer the Soros, Bernankes and Krugmans talking beautifully but saying nothing?

Rogers was correct about the correction in Gold, while everyone was bullish. He warned about India's Gold restrictions while nobody even cared about it.

While everyone is saying that China's boom is over, Rogers explains with simple words, why this isn't the case.

And if you would have listened carefully, he even gives you a few indicators why the shale gas/oil boom is not as great and will probably not last that long as everyone believes.

Do not underestimate Rogers, only because he speaks a direct, simple and honest language nd does not change his opinion from interview to interview!

This interview is a gem and you don't recognize it...

Thu, 12/05/2013 - 04:34 | 4216815 johngerard
johngerard's picture

I'd say Rogers must be worth $400m, so he doesn't need to worry about paying tuition fees.

Thu, 12/05/2013 - 04:47 | 4216828 thestarl
thestarl's picture

Can you blame him though?All these talking heads who interview him seem to be in total denial like the party can go on forever.

Thu, 12/05/2013 - 08:45 | 4217132 Oldwood
Oldwood's picture

Those that continually and vocally warn us are the cranks, the fools. I rememeber that old crank Perot. What the fuck do he know?

The only people who's opinion matters are those that continually warn us of disaster while simultaneously offering us solutions that only require the relief of wealth and freedoms from someone other than ourselves.

Thu, 12/05/2013 - 04:54 | 4216834 mrdenis
mrdenis's picture

didn't Rose Louise Hovick say that once .........

Wed, 12/04/2013 - 21:46 | 4216022 Prairie Dog
Prairie Dog's picture

Yawn. "The United States is the largest debtor nation in the history of the world." No it isn't. 

The world will struggle through, as it always does.

Yes, there will be crashes. Yes, there will be recessions. Yes, there will always be charlatans, snake-oil salesmen and frauds talking their book. The world will survive them all.




Wed, 12/04/2013 - 21:57 | 4216058 Global Hunter
Global Hunter's picture

PD, what countries have had larger debts? 

Wed, 12/04/2013 - 22:39 | 4216180 ForTheWorld
ForTheWorld's picture

If he's talking about Public Debt to GDP, then Japan, Greece, Italy, Portugal and Ireland take the top 5 spots.

If he's talking External Debt to GDP, then Ireland, UK, Portugal, Greece and France are the top 5 there.

Personally, I think they're just nice ways of hiding the real problem - they're broke.

Wed, 12/04/2013 - 22:51 | 4216222 Buckaroo Banzai
Buckaroo Banzai's picture

If you are talking gross volume of debt.... WE'RE NUMBER ONE!!!

Wed, 12/04/2013 - 22:58 | 4216253 Prairie Dog
Prairie Dog's picture

Gross volume of debt means nothing. Any who is remotely numerate knows that

 

Wed, 12/04/2013 - 23:23 | 4216319 Buckaroo Banzai
Buckaroo Banzai's picture

Well that's a stupid comment.

Wed, 12/04/2013 - 23:48 | 4216399 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Its cute how he doesn't understand Jim's words, gets corrected, and then insults those who corrected him.  Being on the internet is like getting into a minor traffic altercation.  Something about being in a car makes it impossible to admit your being a dumbass and just move on.

Thu, 12/05/2013 - 01:33 | 4216677 Prairie Dog
Prairie Dog's picture

Love it! I give you a plus vote!

Singapore, bitches! Free-duhm!

 

Fri, 12/06/2013 - 04:48 | 4220690 sylviasays
sylviasays's picture

moar free-duhmness from prairie dog 

Thu, 12/05/2013 - 07:38 | 4216989 TahoeBilly2012
TahoeBilly2012's picture

Actually this isn't a stupid commen at all. What matters is per capita, not total debt number. People always scream about the dollar failing as reserve currency, this is likely true, but show how many dollars exist per american versus Euros per euro citizen. In other words, whats the per capita existence of dollars if a mass repatriation hits? 

Thu, 12/05/2013 - 19:03 | 4219470 Prairie Dog
Prairie Dog's picture

What matters is that there are two sides to a balance sheet. If you say America is the biggest debtor nation in history without also acknowledging that America is the biggest and richest economy in history, you are not making a useful contribution to the debate. Me know math too!

Fri, 12/06/2013 - 04:59 | 4220694 sylviasays
sylviasays's picture

America was the biggest and richest economy in history until the neo-marxist fascist left took control of it 

 

Thu, 12/05/2013 - 04:36 | 4216817 thestarl
thestarl's picture

To make it worse all those countries are net energy importers

Wed, 12/04/2013 - 22:53 | 4216224 MythicalFish
MythicalFish's picture

GH, on paper, Germany was more "indebted" after WW1. Cannot say it ended well though..

 

http://en.wikipedia.org/wiki/World_War_I_reparations

 

Wed, 12/04/2013 - 22:54 | 4216233 Jump The Shark
Jump The Shark's picture

None, although most fiat has failed far before this I'm sure.

Thu, 12/05/2013 - 00:58 | 4216614 Prairie Dog
Prairie Dog's picture

Which country has a larger economy? One measure is meaningless without the other. That's math!

Thu, 12/05/2013 - 00:29 | 4216535 yofish
yofish's picture

Gave you your only up. Double down dog.

Thu, 12/05/2013 - 08:54 | 4217142 Oldwood
Oldwood's picture

This isn't about money. Money doesn't even exist in reality. The issue is the use of crisis to remove freedom and liberty for the sake of security. At this rate rate we will all be living in cages before long and they won't be gilded either. For those who seem to think the game will continue much as it has in recent past, really aren't paying attention. Things can get very very bad without too much effort. I do believe there are many who hope and wish for some form of collapse but I do not think they want what may actually come, as it benefits no one. It can go medieval very quickly, with no easy recovery.What can collapse in days can take decades to recover from, if ever.

Wed, 12/04/2013 - 21:52 | 4216039 starman
starman's picture

Two things my fellow ZHers there are sheep and sheep herders !
Hedge accordingly I feel it's gonna be a very cold winter!

Wed, 12/04/2013 - 21:52 | 4216042 Atomizer
Atomizer's picture

It won't go well for the Central Planners. 

Wed, 12/04/2013 - 22:26 | 4216048 Conman
Conman's picture

Is Jim going halfsies with Marc Faber on that tank and machine gun?

Wed, 12/04/2013 - 21:55 | 4216050 screw face
screw face's picture

to end badly...coming soon

 

no hedging...

Wed, 12/04/2013 - 21:59 | 4216070 Global Hunter
Global Hunter's picture

Spent the afternoon and early evening stacking some fantastic firewood, I'm not worried tonight.  Amanda Lange needs to lay off the surgery and botox she used to be a very good looking lady 10 years ago and I just wanted to punch her in those stupid lips.  Why do women to pay money to make themselves look like deformed special needs cartoon characters?

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