We now have worse problems than we had before, famous investor Jim Rogers said in an interview this morning. More consumption financed by more debt will not end the crisis because debt caused the crisis in the first place, he said.
On where to invest, he said he is long on commodity and short on stocks. He said he does not own stocks anywhere.
In particular, he does not like what is going on in the bond market, and do not understand why people think bond is safe heaven given the inflation seen everywhere. Bond prices tend to go down when inflation and interest rates go up. Rogers thinks the bond market is one of the only few places where bubbles are developing.
On the other hand, he continues to be very bullish towards food and agriculture. "You should all become farmers. Agriculture's been a disaster for 30 years. We have a shortage of farmers now” – Rogers issues this career advice for young people.
On where to invest, he said he is long on commodity and short on stocks. He said he does not own stocks anywhere.
In particular, he does not like what is going on in the bond market, and do not understand why people think bond is safe heaven given the inflation seen everywhere. Bond prices tend to go down when inflation and interest rates go up. Rogers thinks the bond market is one of the only few places where bubbles are developing.
On the other hand, he continues to be very bullish towards food and agriculture. "You should all become farmers. Agriculture's been a disaster for 30 years. We have a shortage of farmers now” – Rogers issues this career advice for young people.
