Jim Rogers: "Prepare for a lost decade or more"

There are 5 days until the default date of August 2nd. How will this affect everyday Americans? While Obama and Boehner play chicken Jim Rogers, co-founder of Quantum fund, sounds off on the economic issue. Is this a political charade?

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[JohnLeeMD]

This Lucy lady, saying she's not a rich lady... that's a laugh. She probably married to some "investment banker" or "television producer" and sits in a nice mansion overlooking the coast.

[joepeeler34]

@ThenewDelmoniaco China is doing well because they save and invest in capital equipment, which leads to production and productivity gains. It is saving and investment that are the fountainheads of wealth creation.

China has some problems, and will probably go into recession soon, but in the long-run they are fine because they save and invest. That covers up a lot of other mistakes.

[joepeeler34]

@ThenewDelmoniaco China is communist in name only. The communist party is in power, but they have been liberalizing their markets for decades.

Credit bubbles are created by excessive credit creation. They can form in the absence of a central bank so long as fractional reserve banking exists, but central banks make them more likely and economy-wide.

There is a housing bubble in parts of China that is due to Chinese central bank keeping rates too low too long.

[bailinnumberguy]

'Our national crisis' LOL. WWII, the Civil War and the Great Depression were crises. We're currently in a correction and re-adjustment of spending priorities. Everyone's a doomsayer. We need to get our financial house in order, but these blow-hards stirring up fear are borderline irresponsible.

[ThenewDelmoniaco]

@joepeeler34 china is a communist country trying to play capitalist game...the shadow inventory of pretty much everything overthere will collapse when people find that there is no money except fot some few apparatchik...a revolution will then set leaving pretty much everything in disseray...china is a bubble created by the American capitalist like previous bubbles created in the past elsewhere or on wallstreet

[joepeeler34]

@ThenewDelmoniaco Yes, the supply of oil to markets hasn't changed that much over the last decade. It's true that eventually that there will be a problem, but the primary reason that oil and all other prices are going ballistic is that fiat paper currencies--especially the dollar--are being debased in currency wars and a policy of debt monetization. It will take more units of the currency to buy anything as a result.

China saves and used that savings to invest in capital equipment.

[joepeeler34]

@maxistsocialist We don't have free markets now. Our money, banking, and interest rates are controlled by the Fed. The monetary system is largely central planned ( socialism is central planning.)

We have had a mixed economy for many decades with much corporatism and socialism interjected. Corporatism is a type of central planning.

It's all the central planning that has screwed everything up. Take a look at europe. Many of those basketcase countries are more socialist that we are.

[joepeeler34]

@ThenewDelmoniaco You don't understand. Why don't coffee, tea, and toothepaste makers rip you off? Answer: they have to compete, fear lawsuits, and loss of marketshare.

It's only when the govt. colludes with banks and gives them a monopoly or a cartel that they can rip you off. The banks are ripping you off under the curreny system.

Private mintage was common in the 19th century until the 1860's. There is no reason that the state and the Fed. should be given monopoly power to create money.

[ThenewDelmoniaco]

@joepeeler34 a complete separation of state and money....so banksters way is cleared and they can now rip off us all...again, money is not the problem neither the state...the problem is the fact that there is not enough oil for all the new consumers created by the globalisation of the 21st century...that is why the people wealth is going down in develop countries in order to share with new emerging ones...only the rich prosper...china didnt invent anything..we gave it some of our wealth,security

[ecnerwal999]

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