Jim Rogers : The government has always said there is no inflation and when inflation comes up they change their accounting methods to show no inflation. For those of us who shop, we know that prices are up. Just look at your food bills, your education bills, your transportation bills, any bills. Prices are up. The government says they’re not. I have more confidence in John Williams’ (founder of shadowstats.com) numbers that the (Bureau of Labor Statistics). They both can’t be right but I know from my personal life and from people who write to me that the BLS is not right. If you look at how the BLS does its numbers, something like 22% is rental income. Now when [housing] prices were going through the roof, they said, “well rental prices aren’t going up because people are buying houses so there is no inflation,” then when housing prices collapsed they said rental prices are down. When 22% of your prices are based on rent, or rental equivalents, which they can jiggle with, their whole methodology [is questionable].
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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