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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Lagging Indicator's picture

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

RafterManFMJ's picture

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

remain calm's picture

I love chicks who don't wear bra's

TuPhat's picture

That's the good kind of inflation.

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.

Soul Glow's picture

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

InjectTheVenom's picture

i miss Trish Regan .  giggitty.

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.

stocktivity's picture

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

stocktivity's picture

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

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

 

remain calm's picture

I love chicks who don't wear bra's

Sudden Debt's picture

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

 

yogibear's picture

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

brewing's picture

i have something emerging watching erin ade...

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.

dogbreath's picture

grey is neither black or white

TrustbutVerify's picture

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

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.

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.

elekt's picture

(Removed for double post)

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.

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.

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.

greased up deaf guy's picture

i heart jim rogers. digging the suspenders. lol

Soul Glow's picture

Jim has been bullish emerging markets until now.

Kirk2NCC1701's picture

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

Soul Glow's picture

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

Johnny Cocknballs's picture

Gee, no shit, Jim.

 

How do you keep getting interviews??

Soul Glow's picture

Because he made billions cleaning out markets with Soros.

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...

Rukeysers Ghost's picture

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

chump666's picture

She is wild!

 

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

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!!

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??

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.

 

 

 

 

 

 

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. 

 

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.

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.

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.

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.

Tinky's picture

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

To each his own...

Leaf of Tree's picture

Also demonicaly possed look on her face.

She looks like she made a satanical pact.