Jim Rogers on Bernanke: "He is a total fool"

Discussion in 'Wall St. News' started by makloda, Nov 18, 2007.

  1. Mvic

    Mvic

    You (and Marx, cycle of commodification) may be right one day decades or centuries from now but people have been saying that for over 80 years and it has yet to happen. Because the US is probably closer to its production possibility frontier than any other country (and still we are far away from it when you look at the utilization or our resources and the optimum) and we are also the one of the most accessible economies in the world we are the most vulnerable to the effects of the cycle of commodification.

    However, what the cycle of commodification does not take account of is that the global PPF is not only not static but world GDP is always a lot further from it than naysayers imagine. In other words, the world periodically finds ways to increase productivity and efficiency by a significant factor because of new technology, and also has so many resources that are producing so far below their potential that the cycle of comm. is very far from gaining real traction. Even in the last decade where globalization has made huge strides would you not agree that the average American is better off today in terms of their material possessions and lifestyle than in the early 90's? Yes, we may be debt ridden but if we can grow it doesn't matter that much. The question is can we grow at a fast enough rate relative to the rest of the world to maintain and increase our standard of living and what is the driver of that growth going to be.
     
    #41     Nov 18, 2007
  2. well isnt that nice and shady ass policy. If we dont eat no one does. hehe he. thanks igor :confused:
     
    #42     Nov 18, 2007
  3. yeah lets gang up on the old guy, doofus. what a retard. I think this old man would woop you. Just my opinion. You seem so tough behind a keyboard. Yes, do blame the guy for telling you and warning you to divesify your holdings, what a moron.
     
    #43     Nov 18, 2007
  4. Excellent Commentary All
    ..............................................................................

    What is being ignored to some extent...is that it seems most assumptions depend on no real structural changes...ie US tax structure...etc...

    If the US were to change to a 10% consumption tax...and moreless become a tax haven...

    There would be no stopping the USA...

    The dollar could improve rapidly...

    The Chavez model ...is an oil welfare model....and leaves out the best way to value productive assets...which are electronic stock exchanges...All one has to do ..is to walk through the Venezuelan oil fields and notice the equipment that is not operating...where there is a lot of corruption and sloppiness with respect to efficiency....effective productivity and efficient pricing just does not happen...employees need an incentive...and that incentive is a piece of the pie....

    This time around...the wealth needs to be shared more...in the form of more shares for employees...promoting interest in good work , loyalty, and efficiency...with the employee watching his piece of the pie ...on wonderful, liquid, cheap transaction, electronic exchanges ...on the internet ...
     
    #44     Nov 18, 2007
  5. Reniminbi baby! with it let loose against the dollar it is an easy trade. I can do it with my eyes closed.

    Here is some more, you ready?

    2- dirham

    3- rupiah

    4- real

    5- the good ole gold bullion

    If you spread these out and diversify, you have a super currency. p

    oh and if you had your assets in brazilian reales over the past five years you would be up near 100% and by far outperform worthless benchmarks such as the SP 500. How is that for fiat currency?
     
    #45     Nov 18, 2007

  6. What do you do when the Titanic hits the Iceberg?

    Do you a) stay on the Titanic, because it's a "bigger better ship" or b) get on a small life boat and drift as far away as possible?

    Most would stick with choice (a). They are clueless as to the weaknesses in the Titanic. They feel soothed with the perception that the builders sold to them with the ticket.

    A few will get on the life boats and get away. They could be smart, or they could be scared. Either way, we all know how the story turned out.
     
    #46     Nov 18, 2007
  7. gnome

    gnome

    1. We desperately need tax reform AND spending restraint by Washington.

    2. A consumption tax is a really good idea to raise revenue receipts from those who currently avoid taxes illegally.

    3. The current structure suits the criminals in Washington, otherwise things would have changed already.
     
    #47     Nov 18, 2007
  8. Could you please learn to use either the SPACE, the RETURN, or the COMMA key on your keyboard whenever you want to type "...". Not only is it 2 less charcters to type, it also makes the content very much more readable.
    Unless you do it to irritate us, in which case ignore my comments.
     
    #48     Nov 18, 2007
  9. awsome post. titanic was the greatest ship ever made at the time, and we were the greatest biggest country ever founded. In 99-00 I am sure brokers were calling their clients with "do you know how much money you have lost with your money in the bank and not in the market?" then.... I am sure some guys here had posted back then as the market will never go down. Ask yourself when is the best time to defeat an enemy. You will always come up with the same answer. when he least expects it. Now that I come to think of it, rogers should have kept his mouth shut along with the rest, Schiff, Soros, Faber and the rest. This way we can have tons of hopefulls to unload on and provide us liquidity. Another very important question: what is more american, lying and decieving or being truthful and helpful? I would love to hear everyones response. p
     
    #49     Nov 18, 2007
  10. now why would those smart guys in washington do a stupid thing like that? if they can get away with it, and if no one seems to mind being robbed while they sleep, who gives a shit?
     
    #50     Nov 18, 2007