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Jim Rogers: The Coming Mess - Why Brexit Makes It Worse

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http://dailyreckoning.com/whats-coming-going-mess/

But over the next couple of years, it’s going to get a whole lot worse. As economies worsen, there will be more social unrest, more angry people, and crazier politicians. Somebody will try to come along on a white horse to save us all, but she usually makes it worse.

Are we at a point right now where it feels like it’s accelerating. People all over are very unhappy about what’s going on. If you read history, there are a lot of similarities between now and the 1920s and ’30s. That’s when fascism and communism broke out in much of the world. And a lot of the same issues are popping up again.

Brexit could be a triggering moment. This is another step in an ongoing deterioration of events. It’s also an important turning point because it now means the central banks are going to print even more money.

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I'm not really sure he's made any concrete arguments for anything beyond the fact that things are pretty crap, and we've had a horrendous run of bad news.

However I did despair at this nugget:

At the beginning of 2008, the head economist at the Federal Reserve in Washington, DC published a paper that mocked all the people out there who warned about a housing crisis. He said they have 1,000 of the smartest and best educated economists in the world working at the central bank of the United States. Those fools don’t know what they’re talking about. We do.

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At the beginning of 2008, the head economist at the Federal Reserve in Washington, DC published a paper that mocked all the people out there who warned about a housing crisis. He said they have 1,000 of the smartest and best educated economists in the world working at the central bank of the United States. Those fools don’t know what they’re talking about. We do.

1000 of the world's smartest and best educated economists at the Fed! In aggregate, is that 10^3 times as bad as 1 averagely intelligent economist, or worse?

The Wisdom of Crowds Clowns.

IMG_4041.jpg

Edited by zugzwang

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I am sorry to say it, but Jim Rogers is just a parody of himself these days. It's a shame, because he clearly has a brain, he's just decided not to use it for the last few decades.

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I am sorry to say it, but Jim Rogers is just a parody of himself these days. It's a shame, because he clearly has a brain, he's just decided not to use it for the last few decades.

Yep, seems to be most interested in making media appearance's, not sure why.

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That’s because all the central banks are running their printing presses as fast as they can, and Brexit means they’ll run them even faster.

Running the printing presses even faster.

That was going to happen at any rate once the referendum was over - Brexit or Bremain.

Carney must have been working on the details for months now just waiting for the referendum to be over whatever the result.

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Carney must have been working on the details for months now just waiting for the referendum to be over whatever the result.

Exactly. He was going to do this no matter what. The only interesting thing is how he threatened raising rates if the referendum didn't go their way and now almost within a month he's doing the opposite, why isn't he being vilified for this obvious lie. If the he was from the leave camp he'd have been dragged through the media and his resignation demanded.

The truth is that either despite or because of the effects social media we now live in a world of groupthink/virtue signalling. As an example the remain camp contacted over ten thousand economists across the country's universities, of those that replied, approximately a thousand, most were in support. Their brilliant trick was to do this before Leave had even formed. Remain chose an industry that is completely under the spell of EU propaganda.

The remoaners are active in every industry talking the economy down both directly and online. If we get HPC it'll be their actions that we can thank. Many are very pro HPI and of the mindset that "my home is my pension". Let's hope we get some good drops in the next few months.

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  • The Prime Minister stated that there were three Brexit options available to the UK:   65 members have voted

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