Thursday, September 22, 2011

I hope the trade war doesnt break out

Jim Rogers : Well David everything is being killed right now as you can see. partly as you may know Brazil has sort of ignited a trade war and then put on tariffs with the people in Asia and right now China's trying to get the Europeans to let them open up the trade with China more and the Europeans are saying, no. so china is saying no. we won't bail you out. so there are all sorts of trade tensions developing. and currency tensions , it is not a good world well, I hope the trade war doesn't break out, you know, throughout history when you've had trade wars it's caused depression. you saw what happened in 1930. it led to depression. and ultimately it led to war. so I hope it can be contained. I was very surprised to see Brazil do that. one of their largest trading partners is China and yet they certainly -- and Korea, yet they certainly hit China and Korea with 30% tariff increases. it's not fun.