Jim Rogers: S&P 50,000 Dow 1,000,000

darth

http://finance.yahoo.com/tech-ticker/article/258129/Jim-Rogers-S&P-Could-Go-to-50000?tickers=dia,spy,xlf?sec=topStories&pos=8&asset=&ccode=

From The Business Insider, June 3, 2009:

Ahh, Jim Rogers, always good for a nice headline (see: above). In an interview with the Economic Times of India, the famously dramatic and bearish investor, hits on all his favorite themes, like the collapse of the West, the appeal of commodities and farmland, and of course inflation and the collapse of the dollar.

While he's negative on US assets -- he says he's gotten rid of all of his dollars, for the most part -- he advises against shorting this market.

It's a bear market rally. I was going to say I don't think S&P 500 will see new highs. But I have to quickly temper that by saying against the dollar because the S&P 500 could triple from here if they print enough money and the value of the US dollar collapses, then S&P could go to 50,000, Dow Jones can go to 1,00,000.

Which is one reason why I am not shorting stocks right now. Because there is a possibility of this sort of a thing. There is a possibility that stocks could go through unheard of levels, but would be in worthless currency.

And here's his advice to would-be money managers:

Become a farmer. The world has tens of thousands of hotshot fund managers right now. If I am correct, the financial community is not going to be a great place to be in for the next 30 years. We have many periods in history when financial people were in charge, we had many periods when people who produced real goods were in charge — miners, farmers, etc.

The world, in my view, is changing and is shifting away from the financial types to producers of real goods, and this is going to last for several decades as it always has. This may sound strange but it always happens this way. Ten years from now, it may be farmers who will drive the Lamborghinis and the stock brokers will drive tractors or taxis at best.

Sounding very much like Marc Faber, also an advocate of farming, who recently said he's 100%(!) sure that the US will experience Zimbabwe-like hyperinflation.

For more coverage, see The Business Insider:

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CoolMax

bigbadwolf

1# darth

tape

house wll worth double again

dara

always a raw material pumper.