Jim Rogers: 100% chance of another 2008 crash

Discussion in 'Economics & Trade' started by DA60, Nov 19, 2011.

  1. DA60

    DA60 Banned

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    'Investment veteran Jim Rogers has said he is 100% sure the world will face another financial crash prompted by the eurozone debt crisis, adding this time it will be worse than 2008's collapse.
    The CEO and chairman of Rogers Holdings told CNBC the upcoming crisis could be worse than the Lehman Brothers collapse three years ago due to astronomically higher debt levels in economies.
    "In 2002 it was bad, in 2008 it was worse and 2012 or 2013 is going to be worse still - be careful," he warned.
    "The world has been spending staggering amounts of money it does not have for a few decades now, and it is all coming home to roost.
    "We are certainly going to have more crises coming out of Europe and America; the world is in trouble." said Rogers.'


    Read more: http://www.investmentweek.co.uk/inv...05/rogers-100-chance-2008-crash#ixzz1eBwAA0qi
    Investment Week - News and analysis for investment advisors and wealth managers. Claim your free subscription today.
     
  2. DA60

    DA60 Banned

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    I agree that things are going to get ugly.
     
  3. jmpet

    jmpet New Member

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    How nice of you agree with your own post.

    Time to shake up the chicken roost!

    I can also predict a crash will happen between now and 2050 with 100% certainty- it's not insight, it's how cycles work.
     
    Iriemon and (deleted member) like this.
  4. bacardi

    bacardi New Member

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    LOL.....I have been saying that a 2008 style collapse is coming for over a year now...when it will hit depends on when QE stops...so long as we have QE 3 , 4 and 5 then it can be delayed another year or so...but the collapse will be that much worse :)
     
  5. Onion Eater

    Onion Eater New Member

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    I too agree with all of my own posts. ;)

    I also agree with all of the papers on my website, like this one: The Wreckage of Austrian Business Cycle Theory.

     
  6. bacardi

    bacardi New Member

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    another collapse is coming....as soon as the drug wears out ( cheap money) then the hangover begins ( recession) :)
     
  7. Landru Guide Us

    Landru Guide Us Banned

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    Want to put a date on that, or just more Chicken Little Austrian Schoolery?
     
  8. bacardi

    bacardi New Member

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    you already know my date as I have been posting it hear for over a year now....2012 or 2013....I cant see it drag on any later than that!
     
  9. Roon

    Roon Well-Known Member

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    You also must not be a fan of simple math.

    When you have credit card debt, do you feel it a good idea to take out more debt to pay your current debt?

    This little charade only lasts as long as people are willing to lend you the money or have the money to lend you. Eventually the lack of production and capital catches up to you as it becomes politically prohibitive to simply continue to print money. When this happens the music stops and the whole thing comes crashing down. We are nearing this point, the fact that "rescue plans" and emergency bailouts are being talked about just reiterates the fact that the end of near.
     
  10. Iriemon

    Iriemon Well-Known Member Past Donor

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    You can always change it to ....2013 or 2014.... next year, just like you changed it from ....2011 or 2012.... last year.
     
  11. Ethereal

    Ethereal Well-Known Member

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    I love how crashes are now a part of our natural "cycle"...

    Government economics works so well.
     
  12. Landru Guide Us

    Landru Guide Us Banned

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    Not when it comes to describing a complex economy such as ours, no.

    Irrelevant since governments aren't like people with credit card debt. But in fact, yes, it is a good idea to take on more debt if it's at a lower rate -- and in fact the US can now borrow money at historic lows.

    Also it makes sense to borrow more money to increase your income -- say by buying a car so you can get a better job by commuting.

    The only thing simple here is your simplistic attempt to pretend that macroeconomic forces reward thrift. That's silly.
     
  13. Landru Guide Us

    Landru Guide Us Banned

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    Something tells me next year you'll be postponing doomsday. As usual. It's an austrian school habit.
     
  14. bacardi

    bacardi New Member

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    Of course I don't have a crystal ball but I can't see the chinese constantly propping up the dollar indefinately! The trend is clear.....but I guess to clueless people the trend is always cloudy :)
     
  15. Landru Guide Us

    Landru Guide Us Banned

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    If the dollar isn't "propped up," our exports skyrocket. But of course the value of the dollar is much more complex than Chinese monetary policy.
    <<<Mod Edit: Personal Attack Removed>>>
     
  16. bacardi

    bacardi New Member

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    your exports skyrocket? LOL what would you export as most manufacturing is outsourced now? Would you export haircuts and hamburger flippers maybe? :)
     
  17. Landru Guide Us

    Landru Guide Us Banned

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    Pssst: that's the point. If the dollar is cheap, manufacturing investments flows to the US, just like it did to China when the dollar was dear. You're just not much on econmic dynamics, are you?
     
  18. DA60

    DA60 Banned

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    Maybe you would care to explain - if your theory is correct - how the dollar index in April was 10% lower then it is now (i.e. the dollar was 10% cheaper) BUT imports in October are actually up 1%?


    It should also be noted that during this April/May time of a cheap greenback - the May trade deficit was the largest since 2008.

    And since the dollar index has risen (i.e. the dollar is more valuable), the trade deficit has fallen sharply...by over 10%.

    http://www.marketwatch.com/investing/index/dxy

    http://www.census.gov/foreign-trade/balance/c0004.html
     
  19. Landru Guide Us

    Landru Guide Us Banned

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    I don't need to explain this at all. The dollar fluctuates. You and bacardi are the **********s who think that the dollar will collapse.

    If it does, like I say, manufacturing will explode in the US. That's how it works.
     
  20. DA60

    DA60 Banned

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    Then why did the dollar index in April was 10% lower then it is now (i.e. the dollar was 10% cheaper) BUT imports in October are actually up 1%?

    And why during this April/May time of a cheap greenback - the May trade deficit was the largest since 2008?

    And why since the dollar index has risen (i.e. the dollar is more valuable), the trade deficit has fallen sharply...by over 10%?

    http://www.marketwatch.com/investing/index/dxy

    http://www.census.gov/foreign-trade/balance/c0004.html
     
  21. Roon

    Roon Well-Known Member

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    Ahh, so in Quantum physics 2+2 does not equal 4?

    What happens when you borrow at these lower rates yet the amount just continues to climb? Eventually your interest rate can be zero and you will not be able to make the payments as the principle is just to big. Your logic fails rather hard.

    This assumes that a car will land you a better job, but I thought governments were not like people...so how does this logic apply?


    Thrift is always rewarded when the folks who ignored it come begging for help...just ask Germany or China...except they squandered their good fortune to save a failed monetary union...sad really.
     
  22. Landru Guide Us

    Landru Guide Us Banned

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    Yeah, just like that.

    Simple: the borrowed money goes to productivity, resulting in more jobs, more economic growth, more tax revenues, with which we pay off the debt.

    This is of course what we did at the end of WWII.

    And it's what every company does if it wants to modernize: it borrows, invests in productivity, pays off the debt and has more profit.

    See: 2+2 =4. But in this case it's not four, due to the multiplier effect. It's more like 50.













    Eventually your interest rate can be zero and you will not be able to make the payments as the principle is just to big. Your logic fails rather hard.



    This assumes that a car will land you a better job, but I thought governments were not like people...so how does this logic apply?




    Thrift is always rewarded when the folks who ignored it come begging for help...just ask Germany or China...except they squandered their good fortune to save a failed monetary union...sad really.[/QUOTE]
     
  23. Landru Guide Us

    Landru Guide Us Banned

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    Pssst: because the dollar hasn't collapsed like you baggers said it would.

    You're arguing against yourself. A 10% decline is not a big deal.
     
  24. DA60

    DA60 Banned

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    So are you saying that a weak dollar does not help exports unless the dollar falls 'a big deal'?

    You heard it here folks.

    And how low on the dollar index do you call a 'big deal'?


    BTW - I am not a **********.
     
  25. Landru Guide Us

    Landru Guide Us Banned

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    A weak enough dollar will. Econ 101.

    You're the guy who claims the dollar is going to collapse, not me. I'd never say anything so ridiculous.
     

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