11 Aug Jim Rogers still bullish on Commodities China Farming Sugar Asian Real Estate and Mining despite the small corrections
"The Chinese market is doubled between October-November and now so any market that doubles in ten months should slow down, should have a rest. I don’t pay too much attention to day-to-day or even week-to-week fluctuations. I am watching
"I don’t pay too much attention to government figures. I know the US government lies, I presume that most governments just try to make things look as good as possible. So I suspect that is what is happening in China and elsewhere as well.
However, the Chinese saved up a lot of money for a rainy day, now it is raining and they are starting to spend some of that money. So some parts of the Chinese economy will continue to do extremely well no matter what happens in the rest of the world.
Places that deal with the US or Europe, retailers for instance, are suffering and will continue to suffer. There was a lot of lending and some of that money apparently has been going into real estate, property and the stock market which is not good of course but some of the growth in China is certainly legitimate because they are spending a lot of money."He added , on The Commodities fluctuations Jim Rogers said "Some commodities obviously will have to pause others will continue to rise nothing goes straight up, every day, every week, every month. Oil markets - as you know better than most – do have corrections along the way, some are overdue. But as far as I can see, the only sector of the world economy where the fundamentals are improving are commodities. Many farmers cannot get loans for fertilisers even though agricultural inventories are the lowest in decades. Nobody can get a loan to open a mine; it takes ten years to open a mine, so mine reserves continue to decline. So the fundamentals for commodities continue to improve and that is the best place to invest."
No comments:
Post a Comment