Thursday, March 7, 2013
Jim Rogers Explains what is Direct Democracy
Jim Rogers : Well, when I wrote my first book Investment Biker back in the early 1990s, among several suggestions, one was that instead of sending congressmen and senators to Washington, we let them stay at home and vote from home. Instead of spending their days and nights interacting with lobbyists and with each other, they’d spend their days and nights interacting with all of us. And they’d vote at the local high school gym or the mayor’s office or something. Now in 1789, of course you had to send everybody to the same place, and Washington was halfway for most people. But that’s 1789. If you were going to establish a government or anything else in 2015, you would not set it up that way. We now have computers, we have efficient home mail delivery which they didn’t have. And you would do it in much different ways now. You would have computer conferencing, etc. We could do it now, as I said, if you were setting it up now, you would probably do it that way. Any 18 year old with half a brain would set it up that way, better than all of the 78 year-olds who are running Washington, D.C. I just suggest that we make the congressmen stay home, sure they can go to Washington two or three weeks a year if they really feel they have to, but if the lobbyists had to come see the congressmen, and they had to do it exposed to all the voters, we’d probably have much different laws, we’d have a much different government, we’d all have much different lives. Now we send 535 senators and congressmen to Washington, where they’re immediately descended upon by lobbyists and bureaucrats, and they have their own agenda, but it’s not the same agenda that most voters in America would even comprehend, much less support. So it’s a suggestion to change with the times. Is it going to happen by 2015? Absolutely not. I don’t know if it’ll ever happen. Maybe other countries or other generations might do something like that.- in investorguide
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
Who is Jim Rogers ?
James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator