Jim Rogers message to U.S. investors only in two words: "Be careful," said CNBC.
"The U.S. is the most indebted nation in the history of the world," said Rogers. " There may be a very strong upswing of the stock exchanges in the U.S., but it is not based on reality. I encouraged investors to understand that in the paradise of fools, to be cautious, but when people start to sing praises, saying: " I've been such a celebration and I know I have to go," he added.
For it is only a matter of time before the U.S. stock market to fall into huge problems because of the program of the U.S. Federal Reserve to stimulate the economy and its similarities in the world.
"First of all - in the entire history of the United States have occurred drops every 4 to 6 years. This means that at some point over the next few years - maximum 3 - will once again have our problems caused by any reason , "said the investor. "For instance, we had 2001 and 2002, then in 2007-2009 it became much worse. Well, the next time is going to be even worse because the debt level is much, much higher. The same vreme each country increases its debt, " he argues.
Stimulus measures of central banks such as asset purchases with printed money raise asset prices in the short term. According to Rogers, however, this is all they can do.
"This is the first time in the known history where every major central banks print money, so that the world keeps on artificial sea of money. Well, one day this artificial sea will disappear and when that happens, the crash will be even more severe. Yes, this moment is approaching, " he is adamant. " If I was smart enough to be aware of when it will happen, I'd be rich," says the investor.
Although the predicted disaster, he still advises investors to sell. "I see no reason to rush and sell shares now because of these artificial events that happen," said the investor. " I do not buy U.S. stocks at the moment, but do not bet against them because they fear that could lead to a huge balloon. So I sit and watch, " he explained his position.
What would you convinced him to sell? "If the market expanded twice over the next 6 or 8 months, as has happened in the past, I would have to think whether to shorten," said Rogers. But until then, "because of the uncertainty - at least in my head - will not initiate anything," he says.
Jim Rogers is an great investor, author and respected financial commentator. He is a regular guest on different TV programs like these of Barron's, FT, Wall Street Journal, New York Times, Fortune and CNBC. Rogers is the president of Rogers Holdings and Beeland Interests.
October 10, 2013
Jim Rogers: Drop studies in business administration, teaching agriculture
American investor Jim Rogers believes that the financial sector is about to enter into a sustained downturn and therefore advises youth to pursue careers in agriculture rather than in finance , told CNBC.
"If you have young people who do not know what to do , call them not to become masters in business administration, but to graduate in agriculture ," said Rogers.
He is pessimistic about the entire financial sector . "Over the last 30 years in finance was good, but in the previous 30 , and that was not going to happen again," recalls investor . " The financial sector is in decline. In the future, the world will not revolve around finances and about the producers of real goods , "he said.
Recently and economist Robert Shiller has raised concern that " the most powerful and bright " minds do a disservice to the world , heading to the field of finance . In September column in Project Syndicate Professor of Economics at Yale University asked: " Are too many of our most talented people choose a career in finance , and more specifically in the trade speculation and others - alleged to be " unproductive " - activities? " .
In the end, there is a strong argument that the agricultural sector will offer more compelling issues to be addressed .
"We should try to feed the 9 billion people by 2050, with the same number of acres and arable land ," said Timothy Birch , dean agricultural and Manufacturing Engineering at State University of Arkansas. Describing the task as "startling " Birch noted that " opportunities for a person with a degree in agriculture now are great , but they will be absolutely superb as time ."
Rogers calculates the expected growth in the agricultural sector and investment intentions. "Recently watching shares of companies in agriculture ," he said . "I was delighted to see how many things there are to buy ," he added .
In a telephone interview from Singapore on Wednesday again sounded Rogers himself: " I persecuted degree in agriculture will get rich ."
Jim Rogers is an great investor, author and respected financial commentator. He is a regular guest on different TV programs like these of Barron's, FT, Wall Street Journal, New York Times, Fortune and CNBC. Rogers is the president of Rogers Holdings and Beeland Interests.
"If you have young people who do not know what to do , call them not to become masters in business administration, but to graduate in agriculture ," said Rogers.
He is pessimistic about the entire financial sector . "Over the last 30 years in finance was good, but in the previous 30 , and that was not going to happen again," recalls investor . " The financial sector is in decline. In the future, the world will not revolve around finances and about the producers of real goods , "he said.
Recently and economist Robert Shiller has raised concern that " the most powerful and bright " minds do a disservice to the world , heading to the field of finance . In September column in Project Syndicate Professor of Economics at Yale University asked: " Are too many of our most talented people choose a career in finance , and more specifically in the trade speculation and others - alleged to be " unproductive " - activities? " .
In the end, there is a strong argument that the agricultural sector will offer more compelling issues to be addressed .
"We should try to feed the 9 billion people by 2050, with the same number of acres and arable land ," said Timothy Birch , dean agricultural and Manufacturing Engineering at State University of Arkansas. Describing the task as "startling " Birch noted that " opportunities for a person with a degree in agriculture now are great , but they will be absolutely superb as time ."
Rogers calculates the expected growth in the agricultural sector and investment intentions. "Recently watching shares of companies in agriculture ," he said . "I was delighted to see how many things there are to buy ," he added .
In a telephone interview from Singapore on Wednesday again sounded Rogers himself: " I persecuted degree in agriculture will get rich ."
Jim Rogers is an great investor, author and respected financial commentator. He is a regular guest on different TV programs like these of Barron's, FT, Wall Street Journal, New York Times, Fortune and CNBC. Rogers is the president of Rogers Holdings and Beeland Interests.
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