Jim Rogers : well, first of all, the economy is adjusting more and more and more. when oil ten years ago if you had oil was 100, everybody would have passed out and gone home, but now we have adjusted, oil has been over 100 for three or four years, people are adjusting, but it's going to continue to go higher, it's going to have an effect, but remember, some people will suffer, but the people who produce oil will boom as the price of oil goes higher. the people who produce coal the people who produce uranium, a lot of people boom when oil prices go higher.
- in CNBC 06 Dec 2011
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Jim is correct. Not only oil, but other "hard assets" like agricultural farmland and precious metals will also boom. I read a post recently on how the FED is doing a stealth QE3,and if the Eurozone collapses there will be massive additional QE globally to attempt to salvage the situation and promote each company's own exports. Whilst initially there will be a massive hit to economies, its difficult to imagine that trillions of additional QE money would not have some leakage into economies and cause high inflation down the road as well.
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