Jim Rogers took to Bloomberg teevee to discuss the utterly hopeless plight of the American economy, which is hell bound for a most deleterious recession, according to Jim.
“It’s been seven years, eight years since we had the last recession in the U.S. and normally, historically we have them every four to seven years for whatever reason—at least we always have,” he said. “It doesn’t have to happen in four to seven years but look at the debt, the debt is staggering.”
“If you look at the…payroll tax figures [in the U.S.], you see they’re already flat,” he concluded. “Don’t pay attention to the government numbers, pay attention to the real numbers.”
“It might even turn into a bubble,” he said of the greenback. “I mean, if markets around the world are crashing, let’s just say that scenario happens, everybody’s going to put their money in the U.S. dollar—it could turn into a bubble.”
Singapore Rogers is out of his fucking mind. It’s one thing to make a call. It’s entirely another story to say stuff like this.
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Does this guy go clubbing with Marc Faber on the weekend’s?
The first time I ever saw Faber was in a video Rogers produced, the two of them sitting in his former NY mansion with Daniel Yergin, talking pretty rationally compared to now.
More Devil Dog stuff. Welcome to the Bow Tied guy’s newest Devil Dog pronouncements. Remember, the more Devil Dog pronouncements, the merrier the rally.
Maybe the bow tied guy will teach us all to speak Mandarin. That would make a lot more sense than teaching us all to become Devil Dogs and Samsonite Hamburglers like he is trying to do.
Capital consumption is the result of ZIRP and NIRP.
Debt doesn’t mean much. To the layperson yes. To a business. Not so much. Just renegotiate it and keep trucking. What’s the debt clock say? Something something trillions? Meh.
And then there are those who say, if you have the world’s reserve currency, then deficits don’t matter. Even Reagan thought that deficits don’t matter. And there is no one in Washington D.C. who acts as if deficits matter– even if they whine about deficits in order to block the types of spending that the other party wants.
Here is an economic theory that details reasons for deficits not mattering at all.
http://neweconomicperspectives.org/
The U.S. is expected to be the world’s police force– a job that no one in their right mind would want, so I don’t expect anyone to compete with us for the honor– at least not any country that is truly capable of taking the job on, and that other countries would trust with the job. Perhaps what we get in exchange for being the world’s policemen, is to have the world’s reserve currency? Who knows?
We may as well enjoy the benefits– because we sure suffer enough from the drawbacks of being the world’s police force. What a disaster that sometimes turns out to be.
That’s not economic theory, it is economic fantasy. Not even Paul Krugman – a central planner/interventionist of the first order – gives the nod to the MMT/chartalist crackpots.
You can label them crackpots if you want, but that doesn’t make them wrong. Certainly they make more sense than the Austrian Economics school that is so popular on the Internets– where you just let the perfect “free market” do everything. If we followed that school of thought in our economic practices, the Great Depression would have lasted for decades. And we would still be in the Great Recession of 2008 today.
And Paul Krugman has tons of economic facts and statistics that he cites in all of his columns, which give evidence that his principles work, when put into practice. We should all be so smart and objective that we are able to base our ideas for policy on that much objective evidence– rather than thinking it’s a valid criticism to just call someone a “crackpot.”
The comical thing is their use of the phrase “New Economic Perspectives” when in fact is is nothing but an old economic perspective, and a totally failed one at that.
Um, the so-called Great Depression did last for decades, 2.5 of them. Precisely because of Keynesian policy application. For Christ’s sake, the US was a command economy for years!
Keynesian policy helped the Great Depression end. It didn’t lengthen it. Krugman has in print all the stats on that, and they are too long to write here, so I won’t try.
Your economic “news sources” are lying to you. You should read Krugman. He’s quite good.
BTW, from wikipedia, no the Great Depression did not last for 2-1/2 decades.
“The Great Depression was a severe worldwide economic depression that took place during the 1930s. The timing of the Great Depression varied across nations; however, in most countries it started in 1929 and lasted until the late 1930s.”
His statements have more impact when he makes them on a treadmill.
he’s using the same script. meanwhile another day of ramp. c’mon bears WTF
letter S wants a 30 day double lolz
Run for the Ark!
TWTR back above $20 lmfao
“I mean, if markets around the world are crashing,…… up……. EWZ RSX GXG EPU EWC
/TF mission accomplished
http://content.screencast.com/users/toad69/folders/Jing/media/26fe3dcd-5e43-437d-b291-74ded69cc59c/2016-03-04_0942.png
I been looking for you…LOL
Talking his book.
You know since 2009 following this massive ugly bubble we have created, there has been one theme only. Going into Central Bank Meetings David Tepper has gone long believing the Central Banks will do everything possible and I have stayed short saying there has to be a breaking point for this Crazy Bubble and the Central Bankers MUST see it one day and stop. Anyway, we are going into the China Meeting this weekend, with Massive Pollution Problems and a need to keep banks and Yuan strong, HOW IN THE HECK are they going to support a Commodity Project that could justify the run up in Coal and Copper the Speculators believe? Next we have ECB Thursday, HOW IN THE HECK can they go massive strong on Neg Rates after Japan Failed, and if they go Massive Strong on QE, why would the commodities be bought cuz the trade has failed since late 2013? Last we have BoJ….Kuroda has been beaten up, Abe is looking like he is going to be thrown out if they go strong and fail. I don’t know….but I do believe 2016 is the Year of the Nymph and the Year the Central Bankers Can’t Save the Economy. FWIW I agree with my Friend Jim Rogers…yes Recession, And as Markit JPM GLOBAL PMI showed this month we have GLOBAL STAGFLATION.