Jim Rogers was on CNBC discussing the current state of affairs, and he provided some color on his current portfolio positioning:
- Rapidly approaching a crisis worse than 2008.
- US dollar will be a disaster.
- Water problem in China could derail their growth.
- US debt is skyrocketing; when the next recession comes they don’t have the ability to increase debt to fight it, so the result will be worse.
- Something needs to be done because the market isn’t going to take the current situation forever.
- To fix the problem need to take some draconian measures on spending, cut spending and cut taxes.
- Have troops in 150 countries costing a fortune.
- US is printing staggering amounts of money; would you keep lending to someone who keeps spending and spending? He owns the dollar right now because there are just so many bears, but just for a rally.
- Chinese are cooling economy, have an inflation problem and housing bubble. This will impact their economy and anyone who does business with them.
- Commodities are supply AND demand, so China slowing impacts demand. But there are also supply problems.
- Bullish on Brazil? Yes, but the Brazilian government taxes everyone in sight. But he would rather be there than the US.
- Invest in China by buying the currency, or buying commodities.
- Will buy more silver if it comes down further — same thing with gold. Hopes they come down so he can buy more.
- Rogers is short emerging markets and US tech companies. As well as one major US financial company.
- He is short American tech companies because of some near-bubble pricing.
- Long term he still likes commodities. If economy does well commodities go up. If economy is bad, they print more money, which is also good for commodities.
- All Bernanke knows is how to print money, and that is what he will continue to do.
- Rogers has too many friends at the bank; he is short to discuss specifics.
Here is the video:
- Rapidly approaching a crisis worse than 2008.
- US dollar will be a disaster.
- Water problem in China could derail their growth.
- US debt is skyrocketing; when the next recession comes they don’t have the ability to increase debt to fight it, so the result will be worse.
- Something needs to be done because the market isn’t going to take the current situation forever.
- To fix the problem need to take some draconian measures on spending, cut spending and cut taxes.
- Have troops in 150 countries costing a fortune.
- US is printing staggering amounts of money; would you keep lending to someone who keeps spending and spending? He owns the dollar right now because there are just so many bears, but just for a rally.
- Chinese are cooling economy, have an inflation problem and housing bubble. This will impact their economy and anyone who does business with them.
- Commodities are supply AND demand, so China slowing impacts demand. But there are also supply problems.
- Bullish on Brazil? Yes, but the Brazilian government taxes everyone in sight. But he would rather be there than the US.
- Invest in China by buying the currency, or buying commodities.
- Will buy more silver if it comes down further — same thing with gold. Hopes they come down so he can buy more.
- Rogers is short emerging markets and US tech companies. As well as one major US financial company.
- He is short American tech companies because of some near-bubble pricing.
- Long term he still likes commodities. If economy does well commodities go up. If economy is bad, they print more money, which is also good for commodities.
- All Bernanke knows is how to print money, and that is what he will continue to do.
- Rogers has too many friends at the bank; he is short to discuss specifics.
Here is the video:
