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Jim Rogers Critical of Obama Win

November 07, 2012 | About:

Jim Rogers was interviewed by CNBC and he was critical of Obama's election victory.

"If Obama wins, it's going to be more inflation, more money printing, more debt, more spending. It's not going to be good for you, me, and anybody else. It might be good for Mr. Obama's friends, but it's not good for the world."

In particular, Rogers thought that there would be conflict in international trade.

"They both bash the Chinese. They both bash the Asians. Mr. Romney bashes the Russians. I mean, the poor Russians sitting here trying to be our friends and all of a sudden Mr. Romney says they're our worst enemies. I mean, these guys don't seem to understand what's going on in the outside world. I'm sitting here in Asia and see the reaction of Asians to some of these things. Maria, there are 3 billion Asians. Billion with a b. I'm afraid neither one of them gets it. It scares me sometimes."

When Rogers was asked how he was going to invest after the election, he said, "I'm going to short more bonds, more U.S. government bonds. I'm going to buy more commodities, buy metals, base metals and precious metals. It looks to me like the money printing is going to run amok now and the spending is going to run amok now.

I own the U.S. dollar, partly from what you're talking about. My play, rightly or wrongly, is I'm long the dollar and short Treasuries because I don't see that anybody's going to continue to lend money to the U.S. It's going to end now that the world knows that America's going to do the same thing for four more years."

Rating: 4.6/5 (7 votes)


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