Another Recession is Coming - Jim Rogers CNBC 3-17-2010

[The Northerner]

Run time: 04:34 https://www.youtube.com/watch?v=-LbCjei3zAQ   Posted on YouTube: March 18, 2010 By YouTube Member: AllThingsJimRogers Views on YouTube: 887   Posted on DU: March 19, 2010 By DU Member: The Northerner Views on DU: 1268

 

[FarLeftFist]

1. Of course another recession is coming.....

Anyone can say that, and then when an inevitable recession comes they act like they are economic geniuses. If they actually were economic geniuses they would all have come up with a solution to prevent recessions and have a more stable economy. Recessions are a normal part of a capitalist society because greed leads to over-production or over-anything which then leads to a lull. Sometimes I think the economy is it's own living, breathing entity, but in reality the economy is just a figment of our imaginations. It's just paper and plastic, we trade paper and plastic for material items. The whole thing is just make-believe.

[Delzars]

4. I respectfully disagree with you

We're not just talking about anyone. We're talking about Jim Rogers. I will take Jim Rogers opinion any day over Alan Greenspan, Ben Bernanke, Larry Sumners, Bob Rubin or Tim Geithner. He is almost always right and has proven it time and time again. From a simple, common sense approach, you can't inflate your way to wealth. If the economy is a living, breathing thing, it certainly can't be made up. Even if it is made up, the consequences of this "made up" game are very real indeed.

[FarLeftFist]

5. But saying another recession is coming is like me saying....

"I predict an earthquake will strike", like I said, some things are just inevitable. People have been trying to figure out the economy since the beginning of currency, and it's true that there are a lot of people with a very good grip on how the economy works, but no one is able to figure it out and stabilize it. We haven't even attempted trial and error, as we have been known to repeat previous bad strategies over and over again. The economy just might be bigger than us, a giant mystery, an unsolvable riddle our human minds have not yet evolved to fully understand. We have created something bigger and more important than even human life itself....The Almighty One Hundred dollar bill.

[Mithreal]

8. Actual economists say the fundamentals of our economy are broken.

:wtf: do they know? Am I right?

Our economy is not unfathomable.

That economics is not entirely a science and is tainted by ideology, does not mean the economy is unpredictable. There are many good and qualified folks saying the same thing.

[cstanleytech]

10. No, actually the poster is right, recessions are not all that uncommon there have been a number of

them over the past 40 years with this just being the newest one so its not exactly hard to say there will be another one and not end up being right, predicting when and how severe though and being able to stop it though would be more of an achievement than just saying there will another recession.

[still_one]

2. Roger's is a perpetual bear who believes that China can do no wrong /nt

[JournalistKev87]

3. So then

What is said makes sense--there was a recession in the late 80s, the 90s, and two in the 00s.

So what can be done about this? I really think than another economic downturn can be softened. If nothing will be done at the governmental level, then what can individuals do?

This stuff freaks me out because I can't live through a deeper recession, which would equal a depression, cause I NEED insurance (thanks, type one diabetes!)

Bah! Can I just go into hibernation for the next five years?

[Mithreal]

6. Lower and middle classes are perfectly capable of subsidizing the fabulously wealthy.

It'll be all right.

[shotten99]

7. This is overblown by a large margin.

What he's saying is something like: The sun will come up tomorrow.
Cows eat grass. Nothing more, nothing less.
I learned absolutely nothing new from this interview.

[Mithreal]

9. True enough.