In this video interview with Maria Bartiromo, Jimmy Rogers comments on the bailout of Wall Street and his belief that we made a bottom but it is not the final bottom.
He says 300 Million Americans are keeping just a few rich.
Here is a video of Jim Rogers saying he is only buying more commodities and agriculture. He says commodities have done the best with some up 20 or 25%. (I guess he missed my buy of FNSR at 24¢ that more than doubled.)
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During the interview
DJIA = 7690 & S&P500 = 806.31
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Jim expects inflation since banks are printing money all over the World which "always ends up in higher prices."
Jim wants to see the governments let the financials go bankrupt and not throw good money after bad money.
Jim says the ONLY stocks he has bought in the past year are in China and he bought last year but he is not buying any today. He thinks America is spending money on "make work" projects that are not the way to go.
Jim thinks farmers (Agriculture products) will be the "most successful sector" for the next 20 or 30 years. He thinks power will shift from financials to people who actually make things. He told Maria to get herself a tractor. If everyone did that, it would be good for Deere and Caterpillar.
He says 300 Million Americans are keeping just a few rich.
"We had automobile companies, airlines, retailers going bankrupt for hundreds of years. We still have cars, we still have planes, we still have shops. What do you expect them to say? Of course they say there is systemic risk, then they panic Washington and say 'give us more money'. And they keep their Lamborghinis and their houses.Jim Rogers said the global capital markets haven’t reached “the final bottom” yet which echos the sentiment of fellow bearish investors Marc Faber and George Soros, who predicted earlier this week that the stock-market rally will falter.
That is not the way is supposed to work. 300 million Americans are propping up a few guys so that they can keep their Lamborghini's. Its outrageous economics and morality....."
Here is a video of Jim Rogers saying he is only buying more commodities and agriculture. He says commodities have done the best with some up 20 or 25%. (I guess he missed my buy of FNSR at 24¢ that more than doubled.)
========================================================================================
During the interview
DJIA = 7690 & S&P500 = 806.31
============================================
Jim expects inflation since banks are printing money all over the World which "always ends up in higher prices."
Jim wants to see the governments let the financials go bankrupt and not throw good money after bad money.
Jim says the ONLY stocks he has bought in the past year are in China and he bought last year but he is not buying any today. He thinks America is spending money on "make work" projects that are not the way to go.
Jim thinks farmers (Agriculture products) will be the "most successful sector" for the next 20 or 30 years. He thinks power will shift from financials to people who actually make things. He told Maria to get herself a tractor. If everyone did that, it would be good for Deere and Caterpillar.
Since 12/31/98 "Kirk's Newsletter Explore Portfolio" is UP 94% vs. S&P500 DOWN 14% vs. NASDAQ down 28% vs. Warren Buffett's Berkshire Hathaway up 37% (All through 12/31/08 ) (More Info)
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