Pound Terribly Flawed According To Jim Rogers
This has been a year in which Jim Rogers has caused much controversy in the United Kingdom when he said "the City of London is finished" and advised investors to "sell any sterling you might have." The comments prompted an open letter from two economists at The Royal Bank of Scotland, in which they criticized his "Armageddon-esque vision of Britain" and described Mr. Rogers' line of argument as "lacking rigour."
Of course its going to come, its going to come in the US as well, Mr. Rogers told Skys Nina de Roy. UK is not alone in the latest commentary by Jim Rogers, the United States is also in deep trouble if you ask Mr. Rogers
The US should be downgraded already if you ask me and the UK as well. Among the issues both countries face are mountain debts and the continued mistakes by politicians. Both the US and the UK unfortunately both have gigantic debts, and both sets of politicians are making mistakes, Mr. Rogers said.
Speaking to Reuters back in January, Jim Rogers had the following to say earlier in the year: "I suspect it's going to make new lows - it may take a decade," he told Reuters. "It's got near parity with the dollar before...why not again? There are two big holes developing in the UK's balance of payments -- North Sea oil drying up and the financial industry. I don't see anything replacing those two big holes."
Speaking to Reuters back in January, Jim Rogers had the following to say earlier in the year: "I suspect it's going to make new lows - it may take a decade," he told Reuters. "It's got near parity with the dollar before...why not again? There are two big holes developing in the UK's balance of payments -- North Sea oil drying up and the financial industry. I don't see anything replacing those two big holes."
Theyre pouring huge amounts of money into the economy which is going to make some things look better for some people for a while, but it wont last.
Crucially, Mr. Rogers believes the famous rating agencies are scared of revealing the dire state of American finances.
Jim Rogers said the pound could approach parity with the dollar in the coming years as the UK's national debt increases and the economy can no longer rely on the City of London's financial center and North Sea oil supplies for a boost. - 23162
Of course its going to come, its going to come in the US as well, Mr. Rogers told Skys Nina de Roy. UK is not alone in the latest commentary by Jim Rogers, the United States is also in deep trouble if you ask Mr. Rogers
The US should be downgraded already if you ask me and the UK as well. Among the issues both countries face are mountain debts and the continued mistakes by politicians. Both the US and the UK unfortunately both have gigantic debts, and both sets of politicians are making mistakes, Mr. Rogers said.
Speaking to Reuters back in January, Jim Rogers had the following to say earlier in the year: "I suspect it's going to make new lows - it may take a decade," he told Reuters. "It's got near parity with the dollar before...why not again? There are two big holes developing in the UK's balance of payments -- North Sea oil drying up and the financial industry. I don't see anything replacing those two big holes."
Speaking to Reuters back in January, Jim Rogers had the following to say earlier in the year: "I suspect it's going to make new lows - it may take a decade," he told Reuters. "It's got near parity with the dollar before...why not again? There are two big holes developing in the UK's balance of payments -- North Sea oil drying up and the financial industry. I don't see anything replacing those two big holes."
Theyre pouring huge amounts of money into the economy which is going to make some things look better for some people for a while, but it wont last.
Crucially, Mr. Rogers believes the famous rating agencies are scared of revealing the dire state of American finances.
Jim Rogers said the pound could approach parity with the dollar in the coming years as the UK's national debt increases and the economy can no longer rely on the City of London's financial center and North Sea oil supplies for a boost. - 23162
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posted by X - Men @ 2:34 AM
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