Thursday, June 4, 2009
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Global economy will perform better then the American economy.
Legendary investor Jim Rogers has in an interview to The Economic Times warned that the very measures taken by the recession-hit western
countries to spur growth could cause a bigger crisis for the world economy. His sentiments find echo in German Chancellor Angela Merkel’s exhortation that central banks should return to ‘independent and sensible monetary policies’.
The crux of Roger’s argument is that the central banks have printed a huge amount of money which the real economy may not able to absorb. All this money may fuel asset prices again. In the long run, he warns, this liquidity deluge would lead to high inflation and interest rates and a worse economic downturn
Such a stark warning would appear premature at this stage. After all, the annual rate of inflation has fallen to below zero in the Eurozone and elsewhere, too, inflation is hardly a concern. Those belonging to Roger’s camp would argue that excess liquidity in the global system could create another commodities bubble led by oil. This will cause inflation to rear its head again. In that case, it is argued, the central banks would not be able to act quickly enough for fear of causing a deeper crisis.
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Labels:Jim Rogers Articles
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Who is Jim Rogers ?
James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator