Jim Rogers on the economy

Discussion in 'Economics' started by S2007S, Jan 30, 2012.

  1. S2007S

    S2007S

    I liked this article for 2 reasons, first he is right on facebook and second I agree what he says about the US economy, I think he has been reading my posts on here because what he is saying is what I have been repeating over and over and over for the past couple of years. No one seems to get what is going on in this economy, the only reason why everything looks and feels better is because of the all money printing BUBBLE ben bernanke and friends are doing, it amazing how no one comprehends this. I have written about this time and time again, its all smoke and mirrors, how long can BUBBLE ben bernanke and friends continue to prop up a worthless economy.

    "Rogers said the United States looks and feels better because the government is throwing money at it."

    "Of course things are going to look and feel better because Bernanke is printing money and Obama is spending money."






    Jim Rogers: I Would Not Buy Facebook
    Published: Monday, 30 Jan 2012 | 5:57 AM ET
    Text Size
    By: Shai Ahmed
    CNBC Associate Editor


    Jim Rogers, CEO and chairman of Rogers Holdings, said he would not buy Facebook as a stock because it would be too expensive.

    International Investor Jim Rogers Delivers Speech In Nanjing
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    International investor Jim Rogers

    “No, that kind of stock I don’t buy. They are usually very, very expensive. A lot of people like to buy expensive stocks like that, but I do not,” said Rogers, a widely followed investor who has published several books on investing, co-founded the Quantum Fund with George Soros, and more recently is the creator of the Rogers Global Resources Equity Index.

    Reports suggest Facebook could file its papers for an initial public offering on Wednesday, one that could be the largest Internet offering ever, with the social media giant hoping to raise upwards of $10 billion. Such an IPO would value the company at more than $100 billion.

    Rogers told CNBC that the timing of an IPO this week would be a smart move by Facebook.

    “It’s been demonstrated many, many times before that sellers are usually smarter than the buyers, and they usually know when the best time to sell is, and Facebook is doing it,” he said.

    However, he said he would be interested in broader technology stocks, but is currently short the sector.

    “I am interested in technology in some shape or form, but I can’t imagine buying any of them. They are a bit hot these days and they have been for two or three months, so that’s why I am short. I don’t buy high-priced stocks,” Rogers said.


    US Public ‘Saps’

    Turning to the broader US economy, Rogers said the United States looks and feels better because the government is throwing money at it.



    “There is an election in November 2012. Every time there is an election, the government pumps as much money as it can so it can to win the election. Of course things are going to look and feel better because Bernanke is printing money and Obama is spending money,” Rogers said.

    He added that the US public are essentially “saps,” being fooled by a government eager to harness as many votes as possible in an election year.

    “They want to fool all of us saps and get us through the elections, and then they’ll say we’ll worry about those saps next year,” he said.