Answer: The Deficit Talks, The Dollar, Tim Geithner
Question: What are things Jim Rogers thinks sucks?
Investor Jim Rogers recently sat down for a chat with Fox Business. Whereas he's happy as a clam when discussing the idea of investment bankers becoming farmers, there are a few topics that make Ornery Jim come out. They include:
This bull shit the government's going to ultimately pull with the debt ceiling
“We are going to default one way or the other but they may not call it default. These debt reduction talks are a sham.”
The fact that the US won't take his advice to take a time out
“They will probably raising the debt ceiling and announce some kind of wonderful deal, which they will promptly ignore. The United States is not going close down. It might be good for the world if the United States closed down for a while, but I can’t see that happening. Something will happen, things will look better, but then in six months or a year, things will be worse again.”
The Dollar
“I happen to be long commodities and short emerging markets** and technology in the U.S. I am also long currencies, I am short a major American bank and short bonds. It looks as though we are going to have a period of turmoil for a while. A market I am looking at is Japan; I own the Yen. I bought Japanese shares when the tsunami came, I think I am probably going to buy some more. I own the U.S. Dollar. It has been terribly beaten down. Everybody is bearish on the U.S Dollar including me. It’s fundamentally a terribly flawed currency. But when everybody is bearish on something it is usually a time to own it.”
Our soon to be former Treasury Secretary to whom the only thing JG has to say is good riddance
“He never should have taken the job. We are all find out Mr. Geithner doesn’t have a clue about what’s going on. Just about everything he has done has been wrong. We are in worse shape now than we were a couple of years ago except now we have staggering debt to show for the efforts.”
**Except for that whole China thing.
