Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
Friday, August 2, 2013
I don’t trust numbers from any government
Jim Rogers: I don’t trust numbers from any government, as most are made up, as you probably know. China has had astonishing growth, but they have problems with housing and inflation. We had the same problems in the 19th century when we were growing rapidly. Every country that rises rapidly has problems. China can see a recession, but the US saw recessions and 13 depressions in the 19th century, and was still the greatest nation in the 20th century. They are trying to slow down, which is the right thing to do. It’s natural they slow down from these growth rates. They are preparing the economy for long term sustainable growth. The only way the China story runs into big problems is if they run out of water. China has a major water problem. They are working hard to solve it. I believe they will solve it. If you want to make a lot of money find companies that are working to fix that problem. As for their stock market, it’s getting closer to a buy. I bought a few shares on Friday. Their market is getting to the point it should be bought.
at 11:09 AM