I read on the rtlZ website some quotes from an interview they had with Jim Rogers (called an ‘investment legend). I had never heard from him and while the quotes might have been taken out of their context I am not overly impressed by his thoughts (see below some of the more particular ones). Probably one of you knows him but I am interested to read what you think of his ‘analysis’.
“Whether oil costs 45 or 145 dollars, it doesn’t matter really. What matters is that with oil, like with many other commodities, supply is decreasing while demand is increasing. In the long run this will result in a considerable increase in prices.”
Rogers has been negative about the United States for a long time. “You should be worried, America is out of control”. The enemies of the United States are currently looking into how to profit from the weaknesses of the United States. When we asked him: Obama or McCain? he answered: “Neither of them. They are both turkeys, they take the wrong decicions.”
Rogers is fiercely against rescue the banks. “That has never worked. Let them go bankrupt. Right now bad-managed banks are saved with money from good banks and from you and me. After that, the failing but nationalized banks are going to compete with the well-managed banks and they gain their market share. Ridiculous. The Bail-out plan is a disaster. In 1929 we had a recession but after the government interfered, it became a depression. You should not interfere, you have to let it blow itself up and start over.”