Jim Rogers: Stocks To Be Crushed Any Day Now
by Vincent Fernando
Recently by Jim Rogers: Dow 1 Million? Sure, Why Not?
Governments need to tighten their monetary policies more according to Jim Rogers. Such tightening will result in stocks being crushed nevertheless.
Bloomberg: We're overdue for a correction said Rogers, chairman of Rogers Holdings, in an interview in Hong Kong. Stock markets around the world have been going up for the past 10 months.
I don't think anybody has tightened enough. I think everybody should tighten more, he told Bloomberg. We have huge amounts of money printed throughout the world. It's going to cause currency instability. It's going to cause more inflation. It's going to cause higher interest rates.
An extended, related video of Jim Rogers with Bloomberg is below, start from 11:00 for Jim Rogers. He talks across stocks, stimulus, commodities, and gold in particular.
One of the oddest things discussed however, toward the very end of the video, at 27:00, is how Jim Rogers is long both the U.S. dollar and gold. He's also long the Japanese yen even though in his own words, it, like the dollar, is a 'terribly flawed currency'.
This is reprinted from Business Insider.
January 29, 2010
Jim Rogers has taught finance at Columbia University's business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children, and A Bull in China. See his website.
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