Last night in London, Jim Rogers, chairman of Rogers Holdings, was interviewed by CNBC after US Fed announced its decision of leaving the rates alone.
Rogers is very critical to the Fed whose solution to the crisis has been “printing money”, a strategy that he does not see sustainable, “there will be no trees left” if the Fed keep on printing money. Rogers’s contempt to the US Fed is obvious, to a point that he stated that he isn’t paying attention to them at all. He thinks investors are better served to read and think and come up with their our opinions. “Sometimes I got it wrong, sometimes Igot it right” he said.
Commenting on the US Housing market, Rogers thinks that the market will stay low for many years to come to work out the inventories.
I found his answer to the recession question evasive at the best, for the CNBC anchor was looking for a “Yes” or “No” for an imminent double-dip recession. “We’re going to have another recession, I guarantee you… By 2012 say, it’s time for another recession.” – anybody could have said that, for recession comes and goes.
But, “The next time it’s going to be worse because we’ve shot all of our bullets,” he warned us. Rogers has been advocating investing in commodities.