I am not a financial wizard, but one thing I do know, Commodity Traders know more, and are far more in touch with reality than any other financial guru.
If a stock trader said this stuff, i'd might consider it along with all the other things (Like secret space aliens controlling everything), but when a Commodity trader says it, I have to pay darn close attention
The way things are going, I don't think there will be a recovery for a long time.
And I'm not 100% sure about China, as they will have huge social/enviromental problems to deal with in the near future.
As an aside, did you guys hear when he said, "I have two little girls, one born in 2003 and one in 2008...." Jim Rogers looks like a grandfather to me, he must have a trophy wife, and I'm sure she loves him just for his personality.........
(QUOTE) "I dont feel Im getting much out of this."
Hey Anne, he actually does give real world advice, he recommends holding gold and divesting yourself of dollars,( one and the same) and recommends commodities over stocks ( though, like you , I'm not a stock market investor). But just having someone with his clout reinforce what we all THNK is coming, translates into useful advice. It helps to validate all of the preporatory steps most of us are taking.
But considering the high roller that he is, there really isn't any other advice that he could give us "ordinary fellows" that we don't already have a handle on,right?
It was a good video, caused me to go do a search and read and watch more. I agree with his comments 110 percent, and his analysis of what is going on and will happen is right on the mark.
There are an increasing number of knowledgeable voices out there telling the same story, Max Keiser, Peter Schiff, and others that have been calling this right from the "get go". I should point out that Peter, while correct in his analysis does have a slight agenda to sell his company, but the others don't appear to have any ulterior motive, just telling the facts.
Unfortunately for us we cant afford to buy our own island like this guy and sit it out. All we can do is, do what we can.
I do appreciate that more respected people are speaking out against the smoke and mirror deceptive stories placed in circulation, those "don't worry be happy the market has bottomed out " bits.
Most analyst are still singing the old mantra, buy, buy buy. A brokers business is to keep you in the market, and to sell you more stock, really irresponsible. If they told the truth they would be out of work. I suspect that those talking heads on MSNBC and others would be fired on the spot if they said its TEOTWAWKI, they don't want to "upset" anyone and start a panic.