http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6 JIM ROGERS: The worst crash in our lifetime is coming Legendary investor Jim Rogers sat down with Business Insider CEO Henry Blodget on this week's episode of "The Bottom Line." Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime. Following is a transcript of the video. Blodget: One of the things I’ve always admired about you as an investor is that you don’t talk about what should be. You figure out what is going to be and then you do that. So what is going to be with respect to the stock market? What’s going to happen? Rogers: I learned very early in my investing careers: I better not invest in what I want. I better invest in what’s happening in the world. Otherwise I’ll be broke — dead broke. Well, what’s going to happen is it’s going to continue. Some stocks in America are turning into a bubble. The bubble’s gonna come. Then it’s going to collapse, and you should be very worried. But, Henry, this is good for you. Because someone has to report it. So you have job security. You’re a lucky soul. Blodget: Well, yeah, TV ratings do seem to go up during crashes, but then they completely disappear when everyone is obliterated, so no one is hoping for that. So when is this going to happen? Rogers: Later this year or next. Blodget: Later this year or next? Rogers: Yeah, yeah, yeah. Write it down. Blodget: And what will trigger it? Rogers: Well, it’s interesting because these things always start where we’re not looking. In 2007, Iceland went broke. People said, ‘Iceland? Is that a country? They have a market?’ And then Ireland went broke. And then Bear Stearns went broke. And Lehman Brothers went broke. They spiral like that. Always happens where we’re not looking. I don’t know. It could be an American pension plan that goes broke, and many of them are broke, as you know. It could be some country we’re not watching. It could be all sorts of things. It could be war — unlikely to be war, but it’s going to be something. When you’re watching Business Insider and you see, "That’s so interesting. I didn’t know that company could go broke." It goes broke. Send me an email, and then I’ll start watching. Blodget: And how big a crash could we be looking at? Rogers: It’s going to be the worst in your lifetime. Blodget: I’ve had some pretty big ones in my lifetime. Rogers: It’s going to be the biggest in my lifetime, and I’m older than you. No, it’s going to be serious stuff. We’ve had financial problems in America — let’s use America — every four to seven years, since the beginning of the republic. Well, it’s been over eight since the last one. This is the longest or second-longest in recorded history, so it’s coming. And the next time it comes — you know, in 2008, we had a problem because of debt. Henry, the debt now — that debt is nothing compared to what’s happening now. In 2008, the Chinese had a lot of money saved for a rainy day. It started raining. They started spending the money. Now even the Chinese have debt, and the debt is much higher. The federal reserves, the central bank in America, the balance sheet is up over five times since 2008. It’s going to be the worst in your lifetime — my lifetime too. Be worried. Blodget: I am worried. Rogers: Good. Good. Blodget: Can anybody rescue us? Rogers: They will try. What’s going to happen is they’re going to raise interest rates some more. Then when things start going really bad, people are going to call and say, "You must save me. It’s Western civilization. It’s going to collapse." And the Fed, who is made up of bureaucrats and politicians, will say, "Well, we better do something." And they’ll try, but it won’t work. It’ll cause some rallies, but it won’t work this time. Blodget: And we are in a situation where Western civilization already seems to be possibly collapsing, even with the market going up all the time. Often when you do have a financial calamity, you get huge turmoil in the political system. What happens politically if that happens? Rogers: Well, that’s why I moved to Asia. My children speak Mandarin because of what’s coming. You’re going to see governments fail. You’re going to see countries fail, this time around. Iceland failed last time. Other countries fail. You’re going to see more of that. You’re going to see parties disappear. You’re going to see institutions that have been around for a long time -- Lehman Brothers had been around over 150 years. Gone. Not even a memory for most people. You’re going to see a lot more of that next around, whether it’s museums or hospitals or universities or financial firms.
Sorry to disappoint Jim Rogers but moving to Asia ain't going to save him from what is coming down the line!
He mentions the collapse of western civilization -- I believe this to be true & have been saying this from the 1990's. My family think I am nuts.
I can't make any sense out of that interview. Mr. Rogers appears to be saying that there will be a global financial crash and that the next one will be worse than all previous financial melt-down. He bases this prediction on the four year boom and bust cycle having been broken because it has been eight years since the last financial crash. Much of what he's saying appears to be speculation. Granted, he has a track record of getting it right, but his predictions are guesswork nonetheless. Moving to Asia and having his children learn Mandarin suggests that he believes China or some other country in Asia will escape the collapse yet in the interview he says that the Chinese, whose savings cushioned the impact on China of the 2008 crisis, are also in debt so they have no savings to see them through the next crisis. There's no doubt that a financial crisis will happen in the future but Mr. Rogers gives no sound reasons for it happening this year or next. Millions of people across the world both in developed and developing countries, financial crisis is a reality now. Mr. Rogers is a symptom of the reality that Western civilisation which to me is Christian civilisation is already in meltdown and has been since long before Lehmans went to the wall. In 21st century Western civilisation, God is no more than whatever currency offers the most comfortable lifestyle. Pardon my cynicism, but I suspect that Mr. Rogers moved to Asia and has his children learning Mandarin because he sees mob rule undermining democracy across the Western world where mega rich individuals control and direct "citizen's rights" organisations through funding. It doesn't take a financial guru to recognise what's happening to Western civilisation - all we have to do is open our eyes and look around us.
Civilisations have longer lifespans than people. Therefore they collapse imperceptibly unless one looks very carefully. One must know one's history, a subject in which people are very poorly educated. Western civilisation has been collapsing since the Enlightenment, but the first cracks occurred during the Reformation. It is arguable that the West peaked in the Middle Ages. The financial system is being bandaided with the printing of money. Our masters seem to believe that they can, God-like, create ex-nihilo. Or, more likely, they are desperately playing for time. If wealth can be generated as effortlessly and expeditiously as by printing it, why not print more of it and make everyone wealthy? Why didn't someone think of it before? Imagine all those foolish generations of the centuries past, working themselves to the bone in order to survive, while all they needed to do was make ink. Our current elites apparently believe that no-one knew anything about anything until we were privileged for them to be born among us. "We are the ones we were waiting for" is one of their slogans. While they have contempt for all that was thought and done in the past, they have a certainty that they are 'on the right side of history'-they have no regard for the past, but have the gift of knowing the future, or so they think. In reality, the elites are idiotic and ignorant, or infernally wicked. A civilisation is almost imaginably complex to create and sustain. Your family are unaware of the pattern of events. However, a fall is at its most noticeable at the point of landing.
Fun fact about Jim Rogers: In December 2007, Rogers sold his mansion in New York City for about 16 million USD and moved to Singapore. Rogers claimed that he moved because now is a ground-breaking time for investment potential in Asian markets. Rogers's daughters speak fluent Mandarin to prepare them for the future. (Wikipedia) His daughters went to the same primary school that my younger children attended.
North Korea could reportedly wreak havoc with high-altitude nuclear blast A former U.S. ambassador wrote an op-ed in The Wall Street Journal Fridaywarning that North Korea’s nuclear threat is not limited to a bomb striking a U.S. city. A nuclear bomb that detonates 40 miles above a target (and hundreds of miles away) could deliver serious consequences, Henry F. Cooper, who was the director of the Strategic Defense initiative under President George H.W. Bush, wrote. ......Russian generals reported back in 2004 that North Korea has in its possession the designs for these so-called “super EMP nuclear weapons,” th op-ed said. At around that time, Congress put together a commission to study such an explosion, and determined that there would be no effects on the ground, but the high-altitude electromagnetic pulse would render “critical electricity-dependent infrastructure” inoperable. The op-ed raises questions about whether or not North Korea ran a “dry run” recently, when a medium-range missile reportedly exploded midflight in what was seen as a failure. The article questions if the missile was deliberately detonated. .....The op-ed pointed to a report that said “even a balloon-lofted warhead detonated at 30 kilometers altitude could blackout the Eastern Grid that supports most of the population and generates 75 percent of US electricity.” “Detonation at that altitude of a nuclear warhead with a yield of 10 to 20 kilotons—similar to those tested by North Korea—would produce major EMP effects and inflict catastrophic damage to unhardened electronics across hundreds of miles of surface territory. It is a myth that large yield nuclear weapons of hundreds of kilotons are required to produce such effects,” he writes. http://www.foxnews.com/world/2017/0...k-havoc-with-high-altitude-nuclear-blast.html
With all of the recent news: Recent Mark Taylor....condensed! (wondering if the referenced "arrest warrants" that cause civil unrest will be for such as Comey, Loretta Lynch, Hillary et al! Probably too much to hope for!)
Wonderful comments DeGaulle. And in my humble opinion dead on correct. Idiotic or ignorant or infernally wicked says it all. TS Eliot was right: "these are the hollow men...these are the men of straw..."
Well, if you succeed in passing on the faith to your children, they will be far better prepared for any future global catastrophe than someone with a large balance in a failed bank or stocks and shares in bankrupt businesses. Paper money or virtual money are worthless when food is currency, and should food run out it's trust in God that saves mankind from reverting to savagery. Should the collapse happen, I'll probably be the only forum member not knocking on your door because I wouldn't be able to catch my breath in that climate. I'm reading up on how to grow vegetables in containers.
I agree that faith is the most important thing, it's sad how many of us have lost track of that including myself. I got this feeling that Mr. Rogers was holding back a little bit. I think because we are dependent on each other, I mean all of the so called wealthy nations, that in my opinion we may very well be on the verge of a global crisis.
Interesting article, things are certainly heating up when even the prospect of pulling ships from long term storage is broached. http://www.thedrive.com/the-war-zon...tired-carrier-uss-kitty-hawk-out-of-mothballs As the US Navy struggles to figure out how it can reach its new goal of a 355 ship fleet—up from 275 ships today—as quickly as possible, it has been looking towards extending the life of the ships it already has in service. Now the service is also examining the possibility of selectively pulling ships out of mothballs, refurbishing them, and sending them back to the fleet. One ship in particular may have a better shot than others at sailing the high seas once again—the USS Kitty Hawk (CV-63)—America's last operational conventionally fueled supercarrier. The head of the Navy's Sea Systems Command, Vice Admiral Thomas Moore, stated that while most ships in the inactive fleet are in too sorry a state to be worth reviving, the USS Kitty Hawk may not be: "Of the carriers that are in inactive force, probably Kitty Hawk is the one that you could think about. But we studied that when we decommissioned Enterprise, and the carriers are pretty old." Certainly pulling a carrier directly back into service would go a long way to bridging America's "carrier gap" and would make President's Trump's demand for a 12 supercarrier fleet much more obtainable. Currently the Navy has 10 operational supercarriers, and with the USS Gerald Ford's (CVN-78) entry into service date murky at best, that number may not increase for years to come. Even just the possibility of Kitty Hawk returning to the fleet is likely music to the ears of those in Mayport, Florida, who have been begging the US Navy to return a supercarrier to the naval station there. The facility was never upgraded to support nuclear propulsion, so after the USS John F. Kennedy (CV-67) was retired in 2007, it has been without a resident supercarrier, which hurt the local economy and also has strategic implications as well. The Kitty Hawk would be an ideal candidate to call the base home without the need for major infrastructure investments. Some of the other ships that would seem to be likely candidates for revival will probably be passed over—specifically the first five Ticonderoga class cruisers that sit quiet on the Delaware River. These ships didn't feature Mark 41 vertical launch systems, instead being equipped with twin-arm Mark 26 missile launchers and their associated magazines. But still, many have regarded their rickety reserve status a huge waste of latent surface warfare potential. Moore thinks otherwise, and probably for good reason. The ships are vastly outdated compared to their active counterparts, and would take serious money to get them even close to their fleet counterparts standard. Not just that, but they have been cannibalized for spare parts in recent years. Moore says: "Most of those ships, from a combat systems perspective, are pretty obsolete...We probably wouldn’t bring them back and they’ve kind of been spare-parts lockers the last couple of years." Regenerating old ships is all about balancing the cost of bringing them back into service based on what mission sets they could provide, how degraded a capability compared to their modern counterparts is acceptable, and how long they could remain in service once the money has been invested in them. Aside from the Kitty Hawk, the best candidates for regeneration are the ships that could take on lower-end tasks, and thus not require the huge amount of technological investment as their more advanced cousins require. Primarily this includes the Navy's mothballed logistical ships and especially its Oliver Hazard Perry class frigates. The tough Oliver Hazard Perry class ships were retired too soon by many accounts—a symptom of their fiscal neglect more than anything else—and were ripe for a major upgrade like many of the second-hand models operated by allied Navies around the globe have received. Some of these enhancements include the installation of Mark 41 vertical launch systems and upgrades to the ship's sensors and combat systems. "We’ll go look at the FFGs, see if there is utility there... We’ll look at the combat logistics force, see if there’s utility there... So, there is limited opportunity in the inactive fleet but we’ll look at it ship-by-ship." It is very likely President Trump would support such a plan, in fact we predicted exactly this type of asset regeneration program would occur under his administration. Trump also has a personal history with being very comfortable with operating aging but upgraded vehicles. He even hinted at the possibility of bringing back the Iowa class battleship during his campaign, although that is extremely unlikely to ever happen regardless of the political will involved.
On a lighter note, some obscure astronomer has spotted something heading this way... https://www.blitz.bg/svyat/gigantska-kometa-leti-km-zemyata-mozhe-da-ni-udari-snimki_news520069.html
Machine translation: https://www.blitz.bg/svyat/gigantska-kometa-leti-km-zemyata-mozhe-da-ni-udari-snimki_news520069.html A giant comet flies to Earth, it can hit us! (PHOTOS) According to a Chilean astronomer, this can happen in the foreseeable future Chilean astronomer Roberto Anastasia publishes on his facebook page photographs of a huge planet approaching the Earth that can bring the end of the world. Having studied carefully the planet's trajectory comparable to Mars in size, the scientist came to the conclusion that this enigmatic celestial body could approach critically close to Earth in the foreseeable future. And his colleagues do not exclude a collision. The astronomer also explained that the unknown cosmic body does not move in orbit, but unlike asteroids, it has the right shape. According to him, his interior is composed of substances unknown to science, but the main thing is that there is a V-tail, which gives reason to think that it is a giant comet. The scientist handed over his photos to NASA. At the same time, he continues to monitor the site and promises to publish news on his site. Translation: BLISTER
