Well, Warren Buffett is not the only one getting up early in the morning for tv interviews.Jim Rogers sat down to chat with Bloomberg TV (parts one & two) from Singapore the other day, and he's got plenty to share on the state of the world economy and the financial markets.
As always, Jim has some colorful ways of expressing his long-term bullish outlook on commodities. He says that farmers will be the ones to drive Lamborghinis in the coming years (in place of stock brokers and other finance types), and that ex-Wall Streeters should learn to drive tractors if they want to make it in the future, as wealth shifts to producers of real things and tangible commodities.
Rogers also made a great point about the ongoing interventions into the economy, saying that America is making the very same mistakes Japan made in propping up their zombie banks and ushering in a "lost decade" of economic decline.
Here's how Jim put it: "Sometimes you can spend more money trying to prevent a recession than if you just went ahead and had the recession, cleaned out the system, and started over!".
Food for thought, it's really as simple as that. The rest is just bullshit.
Related articles and posts:
1. Jim Rogers says Fed to buy Treasuries - Bloomberg.
2. Jim Rogers: Geithner clueless - Finance Trends.
