Another great Jim Rogers video. All of the banks on Wall Street are in trouble. They have liquidity problems, terrible balance sheets, and phony accounting. This is going to be even worse for the financial banks this time because of the severe excess.
The Fed has printed huge amounts of money, and they have created inflation. It is insane what the Federal Reserve is doing.
There is nothing wrong with a bear market, we have been having them since the beginning of time. The Federal Reserve has a tremendous amount of debt.
The Jim Rogers video moves to a discussion that agriculture commodities are a great place to be, Japanese Yen, Swiss Franc, and even airlines. Many people are bearish about airlines, which actually means it may be a time to build a position. A lot of their competition already went bankrupt. Bankruptcies are an indication of a bottom.
The IEA has said that the world has an oil problem. If there is a lot of oil somewhere, then please tell us where it is so that we can go invest in it.
A lot of commodities have come down very hard, and people are still trying to say that it is a bubble. Congress seems determined to do something to keep the price of commodities down. If they temporarily succeed in doing that, then it could be a good buying opportunity.
The accountants in Asia and Europe have apparently gone right along with the banks in that they didn’t see any problems coming until they were right in their face.
Bernanke said that when the value of a dollar goes down, that it doesn’t affect anything. He doesn’t know a single thing about economics. Another Jim Rogers video will be posted before you know it.
