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JIM ROGERS on 2016 & GLOBAL ECONOMY – Says Get Prepared, Be Worried, Things Will Get Worse
We are now paying for the excesses of the past and everything is going to go down more than it should, says Jim Rogers, US investor and author. Meanwhile, China may play a key role in the showdown between Saudi Arabia and Iran, he added.
This week, crude fell to its lowest level in more than 11 years, while Iranian outrage over Saudi Arabia’s execution of a prominent Shiite cleric spells doom for any possible production cap deal that would have reversed the negative trend in oil prices.
Businessman Jim Rogers sees the steep downward trend in oil prices as reflective of severe financial problems in the global economy that began almost a decade ago with the US financial crisis.
“We’re going to pay for the prices of the excesses of the past 8 or 10 years and everything is going to go down more than it should. Whenever you have something go down, it usually overshoots to the down side; just like when things go up they go up too much,” Rogers told How low can oil prices go?
The American investor warned that any panic in the market could drive oil prices down to new low records. “Some people are saying 20 dollars [a barrel]; I don’t know; that’s not my prediction. I’m just saying ‘be prepared’ if things will go – at least for a short time – lower than anybody could conceive.”
Without providing any definite time frame, Rogers said oil prices will go “much, much higher sometime later, especially in the event of war, in which case they would go up very high – soon.”
The outbreak of war notwithstanding, oil prices can be expected to jump in the future because, as Rogers explains it, “drilling is drying up.” It’s simply becoming too expensive as oil prices plummet for many companies to stay in business.
“They are definitely going to go up in the next few years because supply is going to dry up. Drilling is drying up; everything is drying up, and so you’re going to have much higher oil prices in the future.”
The Chinese connection “jim rogers” 2016 future economy world oil “oil price” china u.s. usa america “united states” “stock market” stocks gold silver “gold bullion” “silver coins” collapse jobs employment agriculture farm farming business food wholesale “american dream” invest investment investing asia “binary options” “binary trading” trade trading cheap “savings account” banking “bank account” “elite nwo agenda” alex jones infowars rant gerald celente jsnip4 rawdogletard mark faber max keiser rich dad poor dad dollar collapse interest rate end game illuminati bilderberg
Rogers went on to explain that China – which depends on oil to keep the wheels of its massive economy churning out exports – is watching the developments between Saudi Arabia and Iran with great interest.
“If Iran and Saudi Arabia start a war, that’s going to be very bad for everybody and China needs a lot of oil. So of course China has a connection and wants to do something about it to keep things calm so they can continue to get oil.” “China certainly does not want a war to erupt between Iran and Saudi Arabia, and China is seen as much more neutral than anybody else. America is not neutral; the Europeans are not seen as neutral…” “I certainly would like to short more junk U.S. bonds and I’m looking for opportunities,” he said. “I’m not shorting Treasurys, I’m shorting junk, maybe I should be shorting everything but I’m shorting junk because the spreads got so narrow for a while that if there’s going to be problems they’re going to show up first in the junk bond market, later on we should probably short all bonds,” he said Gold Bounces On Return Of Stock Market Volatility
Gold is a safe haven asset investors turn to during times of market turmoil Leaving aside this technical change, the SDR has been dominated by the “Big Four” (US, UK, Japan, and Europe) since the IMF abandoned the gold SDR in 1973. This is why inclusion of the Chinese yuan is so momentous
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Low rates are good , they help the little guy , when he borrows
Sorry, typo, that was meant to be WAY TOO EARLY, in case you think, lol, that I'm a nutcase astrologer who cannae spell neither.
Humble pie coming for the world even the elite?
Let's make this simple. It comes down to oil. The lowered oil price has not induced a boom in the market. Conversely, all the profits from the oil business, about $15 S&P is gone. This is the earnings recession we hear about. The E&P companies use leverage and many of them are at the end of the line. This is why banks are under pressure; fear of bad loans.
Everyone should just wait for oil to rebound which will be some time this year. The Saudis have painted themselves in the corner. Their fat lazy society is dependent on oil money. $30 oil hurts the Saudis more than it hurts the American tight oil companies. The bottom line is that rock in the US will not go away, fracking know how will not go away. US banks will continue to extend credit because they know they own the rock.
WHY IS EVERYBODY SO NEGATIVE ALL THE FUCKIN TIME.
EVERY 8 YEARS THE SAME SHIT.
Things have been getting worse the last 1000 years what else is new
Let's get back to the jungle
Be fearless. Dont worry, get tough. be prepared to suffer a little but be strong in faith. Look to the Lord for strength. This is all manipulated by man working for Satan. Its a true awakening time, be grateful you are on earth for these exciting times. Be fearless.
Can somebody please explain how the whole world can be in debt? In debt to whom exactly?
If Sam owes Jill $20 and Jill owes Tom $20 and Tom owes Sam $20, can't they all just write off their debt?
I'm not understanding who these countries are in debt to.
the charts don't lie the monthly death candle has already printed sell every bounce with malice and prejudice cuz it won't be long now gang, money velocity is at a standstill ZIRP is no growth strategy and QE, TWIST QE2 QE3 all failed, or why are interest rates still zero? No escape now, re-pricing risk, price discovery coming folks lower we go
OH, were all suffering! Everybody I know in the USA drives new cars and have 60" flat screen TV's. What do they have in Russia RT? You still live in those Gigantic 1950's Soviet Era apartment buildings, eating watered down Borscht soup. You don't even have freedom of the press. I'd like to hear you Shit Talk anything Russian. You would end up dead.
RT? Shit talking the USA to the point of absurdity. ALL CURRENCIES ARE FIAT, you fools. Who can stand to listen to this propaganda. Remember "Propaganda" is a Russian Word. (they invented it)
How about those republicans in the senate and congress can they reduce defense spending and give me my 42 years worth of social security, oh wait the scums electoral don't have the same retirement as I have, and they wonder why there are riots?
"HOUSE OF CARDS"
Exporting inflation to the Chinese was how the west was build…and to Asia in general. We should all learn how to dig for ourselves unless we like slavery
Central banks are not a bad idea, they just should not bail out their friends , that creates hazards in the long term , and the world runs on long term. Now central banks have other functions too…anyway, remember this very basic disturbing rule. The more people that are trying to become rich, the more poor people will be needed to support their natural Greed…..that works in the short term, but to the responsible wise person in the long term its terrible for the world and the world is now at a state where it cannot tolerate long term hazards of any sort.
how much did jim lose in that last 6 years listening to his own advice
Ah fuck where is the predator to take all these fucks out.
inflate away the debt they say will save you.
What caused it? Lol How about an illiterate fed chairwoman and chairman
After the Two towers came down I bought 50 acres and a tractor and planted 4000 fruit trees and lots of rice, beans, bananas, and vegetables. You buy gold and silver, I bought what people need, food! There are very few in the states that will weather a real storm because most farms are only one crop. Miles of wheat, cotton, or just tomatoes does not make for a very good situation.
With a Socialist government bringing-allowing 17 million of the third world to live Among you. Spells disaster. All multicultural countries have to be held together by force. Good luck.
Pump in Your butt! Bullshit!
Jim "The Fucking Douche-bag" Rogers .
Hang the perpetrators.
U r Russians don't copy capitalust
Don't forget to buy his book
Rogers is a fucking loon.