"There is a huge artificial boom going on," warns Jim Rogers as for the first time in history, all the world's major central banks are simultaneously printing money. While he remains adamant of the positive outlook for agriculture, the fact that "the whole world is trying to debase their currencies," produces a "major disconnect" between asset values and economic realities. Stocks are at new highs, not based on reality, but on printing presses "and that cannot work... this is going to end very very badly." While not all western economies are as egregious as others, the intertwined nature means their fate remains very much tethered to the US, and as Rogers concludes, "everybody will suffer, be very very careful as these are perilous times."
His initial thoughts on the shortage of farmers and the outlook for agriculutre are fascinating but his short-and-sweet explanation of the macro big picture begins around 3:20:
In a way,has'nt it always been artificial? If, say, Ft Knox was examined from top to bottom,would any gold be found? A great deal of psychology and artificial means have always propped up the economy.Maybe not as much as that which currently sorta kinda holds everything in place,but always somewhat.
ReplyDeleteIt has for the last 100 years with the private federal reserve. "The Creature from Jekyll Island" tells it best.
ReplyDelete