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ChrisOH

Jim Rogers On Bbc News

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He's just been on (15.40 ish) and was asked to justify his get out of sterling quote and offered the following

The UK has had two things to sell

Oil

The City

Both of these are gone so the balance of trade and therefore currency will decline.

Bailout will lead to inflation, higher interest rates and debt.

He expects parity or worse with the dollar over the next decade

Poses the question

What is the UK going to be selling in years to come?

In response to what would he do?

I would let the Banks go bankrupt and let them start over. Korea Russia Spain Mexico took their medicine. All survived and started over. Japanese stock market is still below 19 years ago

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He expects parity or worse with the dollar over the next decade

:lol: Hedge your bets why don't you Jimbo?

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He's just been on (15.40 ish) and was asked to justify his get out of sterling quote and offered the following

The UK has had two things to sell

Oil

The City

Both of these are gone so the balance of trade and therefore currency will decline.

Bailout will lead to inflation, higher interest rates and debt.

He expects parity or worse with the dollar over the next decade

Poses the question

What is the UK going to be selling in years to come?

In response to what would he do?

I would let the Banks go bankrupt and let them start over. Korea Russia Spain Mexico took their medicine. All survived and started over. Japanese stock market is still below 19 years ago

I thought we sold pharmaceuticals, technology, weapons, etc?

Sounds like Rogers is trying to talk the UK down because of his own VI.

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I thought we sold pharmaceuticals, technology, weapons, etc?

Sounds like Rogers is trying to talk the UK down because of his own VI.

he doesn't really need to talk us down you fool, look what Brown has done

record levels of debt, bank bailouts which aren't sustainable

I think he's just pointing out the facts of course the elite don't like to hear the truth that we're broke and the sooner we go to the IMF, admit it and cut government spending the better

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I read an article on Jim Slater a while back.

If he announced the next place to be invested in, the chances are he had already made his money there and was about to move onto something else.

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he doesn't really need to talk us down you fool, look what Brown has done

record levels of debt, bank bailouts which aren't sustainable

I think he's just pointing out the facts of course the elite don't like to hear the truth that we're broke and the sooner we go to the IMF, admit it and cut government spending the better

I think the banking crisis is pretty obvious. But it's not just affecting the UK...

As far as things to sell go, I would say the UK is one of the better placed European countries.

Check out Ireland or Spain if you want to see what a basket case looks like.

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I think the banking crisis is pretty obvious. But it's not just affecting the UK...

As far as things to sell go, I would say the UK is one of the better placed European countries.

Check out Ireland or Spain if you want to see what a basket case looks like.

better placed? different degree's of sh1te but we're not the better placed.

at least in Ireland they have admitted they're in sh1te and are cutting government salaries etc. we haven't done that yet, there will be lots of pain. I look forward to it, it'll be good, we need our medicine

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What. Out of the goodness of his heart?

if you've watched him before he's been bearish on a lot of things for years. I remember bloomberg segments where he said sell the investment banks when they were 100$ a share and the graph showing it on the screen, he said they were worthless then and they were.

Britain is in real trouble and the sooner we face up to it the better, we can rebuild and get on with it but we have to cut government spending and take the pain. bailouts and printing press won't work

Edited by punter

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I think the banking crisis is pretty obvious. But it's not just affecting the UK...

As far as things to sell go, I would say the UK is one of the better placed European countries.

Check out Ireland or Spain if you want to see what a basket case looks like.

I would disagrre with Rogers on his timing. I can see dollar-pound parity this year, give or take a cent or two.

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better placed? different degree's of sh1te but we're not the better placed.

at least in Ireland they have admitted they're in sh1te and are cutting government salaries etc. we haven't done that yet, there will be lots of pain. I look forward to it, it'll be good, we need our medicine

Yes, better placed in that we still have some industries making essential products that people will give us foreign currency / gold / magic beans for.

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Yes, better placed in that we still have some industries making essential products that people will give us foreign currency / gold / magic beans for.

think you'll find we dont really manufacture much? not as much as places like Germany. Brown used to brag that 20% of the economy is the financial industry which is crashing

i'm not going to argue with you, the UK and government is bankrupt and as I said sooner or later we have to face up to the financial insanity and obsession with massive public spending on schools n hospitals and admit we're broke

Edited by punter

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He's just been on (15.40 ish) and was asked to justify his get out of sterling quote and offered the following

The UK has had two things to sell

Oil

The City

Both of these are gone so the balance of trade and therefore currency will decline.

Bailout will lead to inflation, higher interest rates and debt.

He expects parity or worse with the dollar over the next decade

Poses the question

What is the UK going to be selling in years to come?

In response to what would he do?

I would let the Banks go bankrupt and let them start over. Korea Russia Spain Mexico took their medicine. All survived and started over. Japanese stock market is still below 19 years ago

We still have a good ten years worth of oil left and some Gas left. More than some of our continental European friends have.

we have shite loads of coal and if the government had any sense instead of bailing out broken banks they should be investing in energy security from wave (seven barrage) and wind power as well as open cast mining and open some of the still usable coal mines to help during a transition period to free energy from wind and wave, also a massive council housing program to build a million or 2 million new low carbon homes as well as retro fitting existing homes with low carbon technology. This would put millions of skilled tradesmen back to work and slow the what will now be a snowball of credit defaults on credit cards, car loans furniture loans and missed mortgage payments sending in a dizzy spiral of never ending bank bailouts as the banks have to write down more and more and more bad loans.

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think you'll find we dont really manufacture much? not as much as places like Germany. Brown used to brag that 20% of the economy is the financial industry which is crashing

i'm not going to argue with you, the UK and government is bankrupt and as I said sooner or later we have to face up to the financial insanity and obsession with massive public spending on schools n hospitals and admit we're broke

I think you'll find we do (you are right about Germany), and we can be energy self-sufficient. Plus we have a climate that is perfect for growing food.

https://www.cia.gov/library/publications/th...r/2078rank.html

And look at some of the useful things we make:

http://www.timesonline.co.uk/tol/news/poli...icle4161341.ece

I'm not saying it's going to be business as usual, it's going to be bad in the UK. It's just going to be worse elsewhere.

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He's just been on (15.40 ish) and was asked to justify his get out of sterling quote and offered the following

The UK has had two things to sell

Oil

The City

Both of these are gone so the balance of trade and therefore currency will decline.

Bailout will lead to inflation, higher interest rates and debt.

He expects parity or worse with the dollar over the next decade

Poses the question

What is the UK going to be selling in years to come?

In response to what would he do?

I would let the Banks go bankrupt and let them start over. Korea Russia Spain Mexico took their medicine. All survived and started over. Japanese stock market is still below 19 years ago

Has anyone asked him outright what his current position on Sterling is? I think we should be told.

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According to an Item Club report last year, 29% of the UK's GDP was in financial services.

I have heard a number of quotes ranging from 6% to 50% of GDP being from financial services. From this we can conclude only one thing - no-one actually has a clue.

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Guest theboltonfury
He's just been on (15.40 ish) and was asked to justify his get out of sterling quote and offered the following

The UK has had two things to sell

Oil

The City

Both of these are gone so the balance of trade and therefore currency will decline.

Bailout will lead to inflation, higher interest rates and debt.

He expects parity or worse with the dollar over the next decade

Poses the question

What is the UK going to be selling in years to come?

In response to what would he do?

I would let the Banks go bankrupt and let them start over. Korea Russia Spain Mexico took their medicine. All survived and started over. Japanese stock market is still below 19 years ago

he's got a ******ing cheek. He's an American. Home of an even bigger crock of shit than us. He now lives in Singapore

If there's one thing to annoy me it's an American criticising us. ****** off you bow tie wearing goon, come back to us when your own house is in order

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He is frequently right but he also gets it hoplessly wrong. Personally, like others, I have a problem with some Yank talking down our economy to make a quick buck for his Vested Interests. We all know that the UK's economy is knackered, but so to is everyone elses. I cannot understand why this tw*t has been allowed on to the BBC.

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he's got a ******ing cheek. He's an American. Home of an even bigger crock of shit than us. He now lives in Singapore

If there's one thing to annoy me it's an American criticising us. ****** off you bow tie wearing goon, come back to us when your own house is in order

IMO it doesn't matter where he comes from or what his nationality is - he is just telling the truth (and yes, I don't deny he has a VI). This is no time to get nationalistic, the US housing bubble was very conservative compared to ours (ours was at least double theirs). Furthermore, the US has a more diversified economy than ours (just about everyone has apart from Ireland, Spain and Iceland) as our manufacturing industry has been decimated and McStalin put all his eggs in one basket (financial services and housing). Face it (I know it's hard to accept) - we are F**ked! McStalin is only delaying the inevitable- unfortuantely for him (and us) he has now run out of time. He and his puppet chancellor will be begging the IMF for help in a few days time! It does not make me happy to say this and I am VERY angry that this lunatic has decided to bank-rupt this nation for his own political expedience. Interest Rates will have to rise and sharply - the markets say so!

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Doomberg:

Goldman Sachs Says ‘Stick to Guns,’ Bet Pound to Rise

Jan. 21 (Bloomberg) -- Investors should keep betting the British pound and gilts will rise because the country’s economic slump is being overplayed, according to Goldman Sachs Group Inc.

“We’re bullish the pound and gilts,” Thomas Stolper, a Goldman Sachs economist in London, said today in an interview. “The macro picture in the U.K. is not as poor as many people try to portray.”

On the traditional GS contrarian-indicator: panic? :blink:

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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