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Jim Rogers: "Be Worried & Be Careful...The Emerging Market Crisis Is Not Over Yet"

Tyler Durden's picture




 

UBS' George Magnus believes the next global economic "crisis"' lightning rod will be the emerging markets and as Jim Rogers tells BoomBust's Erin Ade in this brief interview, "the emerging market crisis has only just begun." While Rogers is careful to add that there are lots of emerging markets - "some better than others;" he warns that "there are some serious problems out there and they are going to get worse." Who is to blame? The Fed, of course - "by driving rates so low and providing as much liquidity as anyone in the world could want, the EMs have borrowed to cover up their real problems... be worried."

90 Seconds of simple clarity

From 17:00 to 18:30

 

 

Transcript:

For Turkey, Indonesia, India, Brazil - this is not over yet - "they have serious problems and are not being resolved."

 

The major problem is the Federal Reserve: with interest rates at such low levels, people can borrow lots of money - and America is printing a lot of money so there's plenty to go around

 

A lot of countries have borrowed money at cheap rates which covers up their problems... they haven't addressed their real problems; and so now, we have a huge problem facing us and it's going to get worse.

 

This is not over yet - you should be worried, be careful, and be prepared

Obligatory Erin Ade collage:

 

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Sun, 02/09/2014 - 22:57 | 4418741 Lagging Indicator
Lagging Indicator's picture

No disrespect to Erin, but I sure miss Lauren Lyster.

Sun, 02/09/2014 - 23:05 | 4418762 RafterManFMJ
RafterManFMJ's picture

Hey!! If you click on the picture, everything about her gets even bigger!

Sun, 02/09/2014 - 23:13 | 4418780 remain calm
remain calm's picture

I love chicks who don't wear bra's

Sun, 02/09/2014 - 23:22 | 4418799 TuPhat
TuPhat's picture

That's the good kind of inflation.

Sun, 02/09/2014 - 23:37 | 4418842 NoDebt
NoDebt's picture

I've watched for 30 years as "credit crisis" after "credit crisis" was swept under the rug.  They pack 'em, stack 'em and rack 'em.  Still there, being slowly written off decades after the incident happened.  A few minor defaults here and there, but mostly the sovereigns absorb them and then repress (and/or devalue) to make the carry cost of that debt livable.  

In the short run, this "crisis" is over, just like all those that came before are "over".  The real world consequences still happen to a certain extent, but the paper asset world trundles merrily along it's way.  

Someday this will end.  But not today.

Mon, 02/10/2014 - 00:02 | 4418894 Soul Glow
Soul Glow's picture

And steadily gold continues to climb higher.  Surprise, surprise.

Mon, 02/10/2014 - 01:00 | 4419007 InjectTheVenom
InjectTheVenom's picture

i miss Trish Regan .  giggitty.

Mon, 02/10/2014 - 02:29 | 4419095 capitallosses
capitallosses's picture

"They pack 'em, stack 'em and rack 'em."

 

I missed the pack 'em and stack 'em, but I did see the rack.

Mon, 02/10/2014 - 07:55 | 4419322 stocktivity
stocktivity's picture

Jim Rogers - there's another one who has been wrong for 5 years running.

Mon, 02/10/2014 - 07:57 | 4419323 stocktivity
stocktivity's picture

Jim Rogers - He and Marc Faber are always quoted and always wrong.

Sun, 02/09/2014 - 23:15 | 4418781 SafelyGraze
SafelyGraze's picture

OT -

this just in: US takes gold in both the men's and the women's "BOA-IOC consumer credit default" event at the winter olympics

"We are just thrilled at how our athletes came through in this event," the coach said. "Loading up the card with an extra $17 as time was running out really made the difference."

congratulations to our athletes. finally a chance now to relax and have multi-partner encounters with VIP attendees.

hugs,
the sochi hospitality club

 

Sun, 02/09/2014 - 23:17 | 4418796 remain calm
remain calm's picture

I love chicks who don't wear bra's

Mon, 02/10/2014 - 04:23 | 4419199 Sudden Debt
Sudden Debt's picture

as a tit coneseur, I can tell you she's wearing a "wonder bra"

 

Sun, 02/09/2014 - 23:13 | 4418777 yogibear
yogibear's picture

She's like a frmale Henry Bloget at yahoo. She seems to have less style and freedom at yahoo.

Sun, 02/09/2014 - 23:16 | 4418787 brewing
brewing's picture

i have something emerging watching erin ade...

Mon, 02/10/2014 - 00:07 | 4418907 elekt
elekt's picture

Why is this forum so pro-Jim Rogers.  The guy has been consistently wrong for going on 4-years now.  One day the market will fall out and he can finally say ah-ha told you so, but everyone of us expects that by now or we wouldn't be on zero hedge.  But until then, he's wrong time and time again.

Mon, 02/10/2014 - 00:12 | 4418920 dogbreath
dogbreath's picture

grey is neither black or white

Mon, 02/10/2014 - 01:03 | 4419012 TrustbutVerify
TrustbutVerify's picture

Elekt....So...we can asume you are 100% invested with no hedges and will remain so.  

Mon, 02/10/2014 - 04:45 | 4419209 elekt
elekt's picture

Why can we assume that?  I'm 25% invested in equities and ~10% invested in metals.  I would never be put all my eggs in a single basket, no matter how bullish the trend is.  I'm scaling more and more out of equities the higher we go, but I see no reason to panic.  Follow what Rogers has been saying for the past 4-5 years and you would have missed the entire move.  The guys a joker.

Thu, 02/27/2014 - 15:57 | 4485972 MeelionDollerBogus
MeelionDollerBogus's picture

Equities? All time highs? No reason to panic? I guess you weren't old enough to have any investments in 2008 or in 2001 or 1995.
http://flic.kr/p/enJ7Cs
You clearly don't understand how this works. You're not insider trading. You're not able to reverse bad trades. You can't peer into others' bank accounts.
You can't count how many people are on the wrong side of the trade, and make it wrong by moving the markets.
As soon as you & other suckers are all-in to the market to avoid missing a move you'll be taken to the wood shed & butchered. It's a rigged game. They're watching every trade you make, and what's in your account waiting for future trades, and will slam down the market as soon as you're in enough, and so are others.
The only reason the market went up is because they saw others were sold out, bankrupt, not able to buy in.
If there were still people in the market in 2008-9 the market would have been slammed down because they are not shaken out yet.
This has ZERO to do with price or value. The ONE thing Jim Rogers always tells you: if too many people are on one side of the boat DON'T BE THERE. That's the facts of the rigged market.

Mon, 02/10/2014 - 04:44 | 4419210 elekt
elekt's picture

(Removed for double post)

Thu, 02/27/2014 - 15:58 | 4485974 MeelionDollerBogus
MeelionDollerBogus's picture

His timeline is decades. If your timeline was weeks you'd be OK with being wrong for an entire 5 minutes to 48 hours.
What he can't cash out for himself is for his children: he's already cashed in big time once and I'm sure he doesn't give a shit now as long as his children are taken care of.

Mon, 02/10/2014 - 04:44 | 4418908 elekt
elekt's picture

(Removed for double post)

Mon, 02/10/2014 - 03:12 | 4419144 Mister Kitty
Mister Kitty's picture

I don't know.  Erin looks quite delicious.  Maybe she borrowed money from the FED to pay for those implants.  Me likee.  Bitches.

Mon, 02/10/2014 - 11:35 | 4419878 fockewulf190
fockewulf190's picture

"No disrespect to Erin, but I sure miss Lauren Lyster."

This chick doing the flexyflex, plus a few beers for insurance (just can´t trust those experienced KGB makeup artists over at RT), and you´ll be droolin´ man.

Tue, 02/11/2014 - 20:59 | 4426097 Buck Johnson
Buck Johnson's picture

I like them both.

Sun, 02/09/2014 - 23:01 | 4418743 greased up deaf guy
greased up deaf guy's picture

i heart jim rogers. digging the suspenders. lol

Sun, 02/09/2014 - 23:00 | 4418750 Soul Glow
Soul Glow's picture

Jim has been bullish emerging markets until now.

Sun, 02/09/2014 - 23:38 | 4418840 Kirk2NCC1701
Kirk2NCC1701's picture

Like all groupies, ZHers are willing to overlook the flaws or contradictions of people they like.

Mon, 02/10/2014 - 00:00 | 4418891 Soul Glow
Soul Glow's picture

One should not have any heros that they do not personally know, and even then, it is dangerous to idolize.

Sun, 02/09/2014 - 23:02 | 4418755 Johnny Cocknballs
Johnny Cocknballs's picture

Gee, no shit, Jim.

 

How do you keep getting interviews??

Sun, 02/09/2014 - 23:15 | 4418790 Soul Glow
Soul Glow's picture

Because he made billions cleaning out markets with Soros.

Sun, 02/09/2014 - 23:18 | 4418793 Johnny Cocknballs
Johnny Cocknballs's picture

touche, Soul G.

 

Sun, 02/09/2014 - 23:09 | 4418771 bearwinkle
bearwinkle's picture

Damn!

Sun, 02/09/2014 - 23:11 | 4418772 BlueStreet
BlueStreet's picture

This Vice tour of the Chinese ghost towns is pretty scary, 64 million empty homes: 

 

https://www.youtube.com/watch?v=trs_udhjWqc&feature=c4-overview&list=UUZ...

Mon, 02/10/2014 - 02:47 | 4419109 Rukeysers Ghost
Rukeysers Ghost's picture

Very interesting piece on the Chinese Ghost Towns. Thanks for posting.

Sun, 02/09/2014 - 23:22 | 4418802 chump666
chump666's picture

She is wild!

 

Sun, 02/09/2014 - 23:24 | 4418811 the 300000000th...
the 300000000th percent's picture

Fiat is a bad system he is absolutley right!! We need to take back our liberty and financial sovergnty. The crypto currency train has left the station. Pandora is out of the box, there is a money revolution happening as we speak. I'm sick of this crappy government money we have been forced to use for the last 100 years. Losing 98% of its value, what a joke. Why havent we revolted yet?? Crypto currencies are changing that slowly but surely, the revolution is coming

Sun, 02/09/2014 - 23:40 | 4418851 Leaf of Tree
Leaf of Tree's picture

Worst case scenario:

- lights out

- no Internet

- no bitcoins wallets function

- you die

You and bitcoin can go fuck yourselves!!

Sun, 02/09/2014 - 23:59 | 4418886 the 300000000th...
the 300000000th percent's picture

I just don't understand all the Bitcoin hate, did you get raped by a bitcoin or something?? Do you even fully understand BTC?? From what I have seen thus far, the only people that "hate" BTC are those that have not taken the time to fully understand it. Also if someone is all for using BTC, that doesnt mean that they arent diversified. I just don't understand people that hate something that gives them totall liberty with transactions. Are you a statist??

Mon, 02/10/2014 - 01:05 | 4419009 Leaf of Tree
Leaf of Tree's picture

Bitcoins are a shity electronic money which kills the process of anonimity.

Since it uses a public blockchain, everyone can download it and have a look at transactions with bitcoins.

It uses cryptography initially developed by the NSA.

Since it is peer to peer and uses a public blockchain it needs the Internet.

Shit-hit-the-fan scenario makes electronic money like bitcoins useless. Unlike silver, gold, seeds, bottled water, food reserves, bullets which are better store of wealth than electronic money designed probably by the NSA.

Each so called anonymous  

address of Bitcoin protocol, when it makes a transaction the Internet IP of the owner goes along with that transaction. So a skilled IT agency like the NSA can actually have a pretty good idea who and where is located every dumb fat fuck geek that uses bitcoins.

 

 

 

 

 

 

Mon, 02/10/2014 - 04:07 | 4419187 Superdude
Superdude's picture

I love how people on this site are all gung-ho for shtf moment. Let me know how close you are to all your materials when it goes down quickly. Hope you are within arms reach otherwise you better have a whole lot of good karma coming your way. Or, the collapse, if it happens in your lifetime, will slow and insidious. In the rapid crash only pure luck will let you survive the first 48, after that, get familiar with cannibalism. 

 

Thu, 02/27/2014 - 16:01 | 4485991 MeelionDollerBogus
MeelionDollerBogus's picture

No, generally in the past pure luck has no such effect. Those who survive are super prepared, very clever, good instincts.
Everyone else is fucked. You've just never seen prepared people handle their shit.

Mon, 02/10/2014 - 09:21 | 4419443 pavman
pavman's picture

Disclaimer: While I'm only not a huge fan of BTC because I didn't mine 'em when I could have...

I think like all irrational thought you are going to an extremely unlikely scenario. There will always be rich, powerful people in other parts pf the world that won't suffer the debilitating shock of currency destruction.  They'll still trade BTC when the troglodyte's power is out and will be there when it comes back on. Its almost as irrationally absurd as to state that Google's stock will one day be $10 a share.

Thu, 02/27/2014 - 16:00 | 4485985 MeelionDollerBogus
MeelionDollerBogus's picture

no, they won't, which is why they aren't now either. Those who are most rich, most elite, use gold, diamonds, sapphires, paintings & mansions or yachts as money.
Bitcoin has no purpose for them but to use as a honeypot to lure in fools who otherwise might have had a chance to avoid being poor.
This is how you're kept poor, put back in your place, by them.

Thu, 02/27/2014 - 15:59 | 4485982 MeelionDollerBogus
MeelionDollerBogus's picture

but it doesn't. It actually gets me all money lost & no way to be assured goods or services are ever received.
It offers nothing that you promise.

Sun, 02/09/2014 - 23:32 | 4418827 Tinky
Tinky's picture

Erin Ade? Boyish hips, Waspish features and breasts that are destined to soon be pointing downward. 

To each his own...

Sun, 02/09/2014 - 23:43 | 4418856 Leaf of Tree
Leaf of Tree's picture

Also demonicaly possed look on her face.

She looks like she made a satanical pact.

Mon, 02/10/2014 - 03:13 | 4419141 The Devil
The Devil's picture

Not yet, but soon.

Sun, 02/09/2014 - 23:44 | 4418857 disabledvet
disabledvet's picture

from Positive Reinforcer (QE...create more to get more of) to Negative Punisher (Taper...take away to get less of)...with ZERO "forward guidance" for said change.

this has not only smashed into "emerging markets" but also (obviously) Japan and Argentina. so now a huge production boom in the USA (in energy in particular) will now meet another huge production boom "of every widget imaginable." all with the backdrop of dollar shortages. won't this force everyone to produce more as a consequence? where is my "value added"? how do i make money here?

the risk of course is that "gold will just sit there and do nothing."
having said that if prices start to fall then obviously all gold need do is "just sit there" as its value (what could be bought with it...in dollar terms) would increase enormously.

the same of course would be true of cash flow...discounted.
In theory the same could be true of a "benefit check" (transfer payment) as well.
All without any economic recovery...pretty much anywhere on earth.

Sun, 02/09/2014 - 23:44 | 4418861 AdvancingTime
AdvancingTime's picture

Whether by design or merely as a byproduct of globalization we have weaved a web of financial transactions that circle the globe. Over the last several years as money was printed by the central Banks it was not contained in the countries where in was printed. This money flowed across borders influencing and distorting markets and prices across the world.

Some people have been calling for a "world currency" for years. the saying "one should never let a good crisis go to waste" means a meltdown with high levels of fear would present a perfect opportunity and catalyst to advance this agenda down the field. Remember many people with agendas have a lot to gain when a major shift in the currency markets takes place. More in the post below,

http://brucewilds.blogspot.com/2014/02/contagion-may-lead-to-new-world-c...

Mon, 02/10/2014 - 10:28 | 4419653 marathonman
marathonman's picture

That's the plan AT.  A completely unaccountable world central bank to plunder and concentrate wealth on a global basis.

'Pleased to meet you.  Hope you guess my name.  But what's puzzling you is the nature of my game...'

Sun, 02/09/2014 - 23:54 | 4418878 DirtyWilly
DirtyWilly's picture

You do realize that Erin supports Bitcoin right?  How are you going to put a negative spin on crypto by showing off her beauty?

Mon, 02/10/2014 - 02:18 | 4419080 jerry_theking_lawler
jerry_theking_lawler's picture

I thought she was working on "slitcion"....

Mon, 02/10/2014 - 00:04 | 4418903 Son of Captain Nemo
Son of Captain Nemo's picture

So where's the pole and the 12" dildo in those dance pictures?

Mon, 02/10/2014 - 00:22 | 4418936 stant
stant's picture

get real anyone here would lever up for some of that. i do miss laurens legs tho

Mon, 02/10/2014 - 01:31 | 4419039 therover
therover's picture

Me too. Lauren is a sexy thang.

Mon, 02/10/2014 - 00:25 | 4418939 LongOfTooth
LongOfTooth's picture

"Open markets and free trade is good for everybody".

Sorry Jimmy I have to disagree with you on that one.  Open markets and free trade is destroying our middle class or at least a good bit of it.  There's no way in hell our workers can compete with workers who are making pennies a day, with no health care, no retirement, etc.

Imo America needs to put some sort of FAIR tarriffs on imported goods.  Determining what is fair isn't going to be easy but it's do-able.

 

 

Mon, 02/10/2014 - 03:08 | 4419132 pondview28
pondview28's picture

All those "smart people" deciding on what is "fair"? This is what leads to problems rather than solves them. Drive up the cost of imports and create more expensive domestic products. It will help almost no one and hurt almost all of us. We had a nice run after WWII. Now we compete with the entire world. Lets concentrate on that instead of even thinking about wasting time and money on protecting an anachronism.

Mon, 02/10/2014 - 04:15 | 4419194 Superdude
Superdude's picture

Long raises a valid point tha t historically protectionism has enabled countries to grow. So what's the choice? Go back and try what has worked and hope it still has value or try something new in hopes of a different outcome? Humans are quite shitty at new ideas and we tend to kill those who are visionaries, so I guess we are stuck with the current marriage of foot, can, and road. 

 

Thu, 02/27/2014 - 15:32 | 4485892 MeelionDollerBogus
MeelionDollerBogus's picture

not valid: if protectionism had been used the people who did benefit wouldn't have immigrated in the first place.

Thu, 02/27/2014 - 15:31 | 4485885 MeelionDollerBogus
MeelionDollerBogus's picture

Open markets & free trade BUILT that middle class.
What's destroying  them is the removal of all free markets.
Now you have
immigration restrictions on PEOPLE but not on CORPORATIONS
tariffs
high taxes
currency wars
and illegalization of various commodities that are in real demand & perhaps even have real use.
If you wanted to run a thorium reactor or to have a cannabis farm, most of the developed world, you'd be put in prison.
There's no good reason for that.
All of this is anti-freemarket. Shipping jobs to China is ANTI-freemarket. It's cheaper not to ship them, in raw energy & work-hours terms, the only "cheaper" way it goes opposite is the fraud of central banking fiat printing. Currency wars & trade-wars.
You've been fooled.

Determining what is fair is easy: no more stealing & war to get resources, a return to a free market. You're seeing the opposite today.

Mon, 02/10/2014 - 00:28 | 4418948 Colonel Klink
Colonel Klink's picture

Financial media whore/porn star.

Mon, 02/10/2014 - 00:36 | 4418963 stant
stant's picture

money bunnys, well aware of that scam

Mon, 02/10/2014 - 07:40 | 4419314 SilverSavant
SilverSavant's picture

I will take baauty where ever I can find it, thank you very much.

Mon, 02/10/2014 - 00:40 | 4418973 AgentScruffy
AgentScruffy's picture

A wee bit of envy there, envy for what one doesn't have?

Mon, 02/10/2014 - 00:59 | 4419005 william114085
william114085's picture

I went home and listened to Jimmy Rogers in my lunch break

Mon, 02/10/2014 - 01:25 | 4419034 Salamanda
Salamanda's picture

Surely they've discussed a slight tweak to the show's title:

'BOOM! Here's My Bust!'

 

 

Mon, 02/10/2014 - 03:03 | 4419126 monkeyboy
monkeyboy's picture

 

Mutton dressed as man. Got some strong manly features that one.

Mon, 02/10/2014 - 03:38 | 4419166 10mm
10mm's picture

Serious case of Dude Face.

Mon, 02/10/2014 - 05:48 | 4419245 Rodders75
Rodders75's picture

Is Erin single?

Mon, 02/10/2014 - 07:57 | 4419321 Sufiy
Sufiy's picture


Bubble Chronicles: Bitcoin Crashed Down Fast to $500 at Mt. Gox and $102 at BTC-e today.

After all the news about the Mt. Gox and Russia making any transactions with Bitcoin illegal, Bitcoin is crashing fast now with Mt. Gox  quoting below any other exchanges at $530 and Litecoin is down to $15.
  Bitcoin has printed low $500 on Mt Gox and fell as low as $102 at BTC-e today! So much for the crypto-currency reliability as exchange, the "value" of vapour currency can literally evaporate at any moment.

Update:

 
"MtGox have discovered a critical flaw with Bitcoin, that every exchange is now having to deal with. That fault threatens the functioning of the digital currency." http://sufiy.blogspot.co.uk/2014/02/bitcoin-crashing-down-fast-to-530-at...

Mon, 02/10/2014 - 12:03 | 4419961 Woodhippie
Woodhippie's picture

I can't stand this broad.  Don't get me wrong, I'd bang it like there was no tomorrow, but I can't take ditzy bitches and financial info at the same time.

Thu, 02/27/2014 - 15:34 | 4485894 MeelionDollerBogus
MeelionDollerBogus's picture

She doesn't seem ditzy to me. She seems to understand what she's talking about.
Same with Perianne though she's a bit tongue-tied and I think that's why they moved her off the finance stories.

Mon, 02/10/2014 - 13:18 | 4420191 pupdog1
pupdog1's picture

I am really tired of seeing a story about this bow-tied prick on an almost daily basis, somewhere in the media. Does he have a day job?

How about a story citing a single non-Soros example of him actually being right about something?

Save Rogers for MSNBC.

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