ur point of China is right for the poor group of the whole CHinese people who r living in mainland here, where im living right now as a Chinese citizen, u also has point out some of the keys here which is right , but i think for Jim Rogers, 1st, he is a businessman, 2nd, he only care about making money or not, and for the foreign investors they have done a great job for profiting from Chinese mainland market, like UBS, Citi group, GS, they have profit alot in the A shares , but the tragidy is when the big foreign investors r busy for preparing the investment in China, our chinese own investor always complaining the undeveloped points of our capital market, but once the big foreign guys earned enogh and closed all their orders and celebrating in one yatch in Switzerland maybe, the chinese investor begain to say: oh, the bull comes........... hehe..........
don't forget that freddie mac and fannie mae were created by the US government. they are the mechanism that allowed private banks and the mortgage industry to act irresponsibly. this debacle could never happen in a free market.
No one put a gun to the head of financial institutions and told them to buy Fannie's and Freddie's debt. They did that of their own volition. They could have just as easily said no. Goes for most of the other exotic financial products out there. The situation is similar to the junk bonds of the 1980s but on a much larger scale. It's free markets that allow this to happen. They have their upside but please don't shift the blame and pretend they don't have their downside too.
He also moved to Asia because, and this is a direct quote: " I'm afraid somebody is going to bomb New York." Let's see how this prophecy works out.
you are taking the quote out of context. he didn't move to asia to escape a possible bombing in ny. "Let's see how this prophecy works out. "[/B][/QUOTE] what is your point?
Yes he did. Some hyperbole to it sure but you get the picture. After travelling around the world twice Jim Rogers decided a long time ago the empire was overstretched and based on his historian academic background the ramifications of such a conclusion should not be underestimated hence the bomb New York reference he used. He has been very vocal on all of this so it shouldn't come as a suprise to anyone really. But hey if this offends you, as it does to some labeling Rogers a traitor, hop guru and switch to Warren 'It hasnt paid off selling US short these last 200 years and it won't pay off selling US short next 200 years' Buffet.
hyperbole is an understatement. more aptly your presentation of jim roger's comment about moving to asia rises to the level of distortion of the facts. do u know the reason he moved to asia? he moved to asia to be closer to his investments and that his daughter should be educated in chinese. as to warren buffet he has been known to be short the dollar. i suppose in some circles that would make him a traitor.
these (free market)unregulated offshore hedgefunds were selling bundled mortgage packages over and over,the same bundle of ten houses,(10 half million$ homes is a 5 million package)to several buyers,when they go to cash in trying to sell there bogus package,there are no houses,similar to my real estate broker selling my one house to 10 different buyers at once,i sell my 500k house for 5 mil. Now all the buyers are standing there aching and having trouble walking while i'm out on my yacht with their money. The fed is trying to keep face for not stopping it by covering some of the debt,they are also asking the theives(morgan,lehman,goldsax,...) to chip in. They now have to figure out how to prosecute without looking like asses for taking all these mortgages{fre and fnm). The free market needs regulation just like your town needs a sherriff
Yeah, a hideous person who donated hundreds of millions to scientists, resistance movements, and the underground in E Europe and S Africa during the communist & apartheid era whilst most of his fellow billionaires were partying the 80s away. What a horrible guy!
That may have something to do with the fact that Rogers retired in 1981 in his mid 30s, whereas Soros continued working full-time for another 20+ years. I guess him setting up the Rogers Commodity Index in the late 1990s was just an act of shameless self-promotion? I seem to recall he lost some money in the Refco debacle, so I presume he cleared through them.