http://finance.yahoo.com/tech-ticke...ers-S&P-Could-Go-to-50000?tickers=dia,spy,xlf From The Business Insider, June 3, 2009: Ahh, Jim Rogers, always good for a nice headline (see: above). In an interview with the Economic Times of India, the famously dramatic and bearish investor, hits on all his favorite themes, like the collapse of the West, the appeal of commodities and farmland, and of course inflation and the collapse of the dollar. While he's negative on US assets -- he says he's gotten rid of all of his dollars, for the most part -- he advises against shorting this market. It's a bear market rally. I was going to say I don't think S&P 500 will see new highs. But I have to quickly temper that by saying against the dollar because the S&P 500 could triple from here if they print enough money and the value of the US dollar collapses, then S&P could go to 50,000, Dow Jones can go to 1,00,000. Which is one reason why I am not shorting stocks right now. Because there is a possibility of this sort of a thing. There is a possibility that stocks could go through unheard of levels, but would be in worthless currency. And here's his advice to would-be money managers: Become a farmer. The world has tens of thousands of hotshot fund managers right now. If I am correct, the financial community is not going to be a great place to be in for the next 30 years. We have many periods in history when financial people were in charge, we had many periods when people who produced real goods were in charge ââ¬â miners, farmers, etc. The world, in my view, is changing and is shifting away from the financial types to producers of real goods, and this is going to last for several decades as it always has. This may sound strange but it always happens this way. Ten years from now, it may be farmers who will drive the Lamborghinis and the stock brokers will drive tractors or taxis at best. Sounding very much like Marc Faber, also an advocate of farming, who recently said he's 100%(!) sure that the US will experience Zimbabwe-like hyperinflation.
SPX 50,000 = worthless $USD From '82-'05, the Turkish market went up 2 MILLION PERCENT... and all who were fully invested in stock STILL LOST 98% of their wealth through currency devaluation. Don't think it can't happen here.
brilliant advice! the people who could run the financial operations now will make sure we starve to death.
Worthless Dollar = High Inflation = Colapse in STocks as cost skyrocket The only stocks that will benefit in inflation are mining and other hard asset plays.
And if the $USD declines to "squadouche", it doesn't matter how many inflated dollars or whatever percent you've gained... you're still busted. Currency destruction is perhaps the WORST thing politicos can inflict on their country and its people... well genocide, enslavement and torture are worse, but not much else.
Rogers is such a drama queen. Become a farmer? Really, Jim? Sounds like somebody lied about being short and got caught in this 40% move up. S&P 50K here we come.
Oh brother... like you're not going to be busted if that happens.. Even if you managed to turn your poke into $millions, all you could do with them is buy a little plastic hotel and put it on Boardwalk.