We looked at some of Jim Rogers' comments yesterday evening. Here's an interview he did with the BBC a couple of weeks ago, where he goes into more detail about what he sees ahead. It's not long, but contains much food for thought. Note a couple of imbecilic questions from the BBC interviewer, who seems to think that economic reality can - or should - be subordinated to social policy and/or needs. He might as well do a Canute and tell the incoming tide to stop! Mathematics is inexorable, and doesn't care about policies or politics.
Troubling indeed!
Peter
OK, so there's a glut of college credentials (another blog tells me). There's a glut of debt incurred for education. Real estate is probably held up by stimulus as are equities and bonds. So, what do you do? I have more canned chili then I ever hope to consume. My dog probably couldn't be sold for a Maple Leaf (if I was willing...) Do I dump the IRA (paying 30% tax/fee) and pay off the small debt I have on two houses? I mean, I pay attention to Rogers, Shiff and blogs like this... but get no hint that any of the concerned investors have an idea for where -to- invest. Boyd K
ReplyDeleteIt's about to be 52 pick up on where to put anything... sigh...
ReplyDeleteDesperate wounded cornered governments do desperate things. If you can't physically hold it, and defend it, it is at risk. Any financial instrument, IRA, stocks, bonds, checking account, 401K , anything- can be seized or held hostage cheaply and easily.
ReplyDeleteNobody needs a crystal ball- just a rear view mirror. Look at what they have done in the past- and don't deceive yourself thinking "the USA is different"- at the core, our "officials" are not one bit different than those of any other nation, at any time in history-they are pernicious, parasitical, profligate and have only gotten this far by burning up 200 odd years of hard-won design margin and capital. Folks, we are eating the seed corn of civilization. Winter is coming.