JIM ROGERS BLOG is An Unofficial Tracking Blog of Global Investor Wall Street King and author Jim Rogers , his investments speeches interviews ideas and much more....
Monday, November 25, 2013
The world has consumed more than it produced for more than a decade,we will all dry up
"The world has consumed more than it produced for more than a decade," Jim Rogers explains to BoomBust's Erin Ade; but his comments to the leather mini-skirted anchor with regard the actions of the world's central banks bear the most attention. "The world is floating on an artificial ocean of printed money," he blasts, adding that while it's going on "everyone's happy," but at the first sign of it slowing, he warns, "we will all dry up."
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%.
Video - Jim Rogers : After Iran Nuclear Deal , Oil likely to Fall
Jim Rogers said, the crude prices could see a bottom in the short-term, which in turn could galvanize OPEC into taking action because the OPEC have not cut back on their spending and would need to keep the prices up.
Q: Iran’s nuclear deal is a historic deal. What impact do you see this having on crude prices in the near-term if at all?
Jim Rogers : It is already having an impact. Whether it is a real deal or not is irrelevant. It is having an impact right now. My first reaction is Iran has been selling its oil - they may not have been selling it to the west, but they have been selling their oil. So there is not going to be much of a new supply on the market, but psychologically it is clear that the oil markets are ready for a correction. This has given them an excuse for a correction and so it is in process. We will probably hit some kind of bottom if we have panic selling; that usually means we are getting towards bottom and it looks like there is panic selling.
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%.
Q: Iran’s nuclear deal is a historic deal. What impact do you see this having on crude prices in the near-term if at all?
Jim Rogers : It is already having an impact. Whether it is a real deal or not is irrelevant. It is having an impact right now. My first reaction is Iran has been selling its oil - they may not have been selling it to the west, but they have been selling their oil. So there is not going to be much of a new supply on the market, but psychologically it is clear that the oil markets are ready for a correction. This has given them an excuse for a correction and so it is in process. We will probably hit some kind of bottom if we have panic selling; that usually means we are getting towards bottom and it looks like there is panic selling.
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%.
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