In his latest interview with The Wall Street Journal, famed Quantum Fund co-founder and investor Jim Rogers tells it like it is, as usual. Among other choice snippets, Rogers remarks that the current debt talk negotiations are simply a scam and a charade, and are just trying to get publicity. What follows are a few more, and you can view the entire video clip below.
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Jim Rogers: The US is the Largest Debtor Nation in History
Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: AAA status, charade, credit, currencies, Debt and Deficit, debtor nation, Dollar Decline, dollar pessimism, DR EXTRA!, Jim Rogers, long-term bonds, Markets, Moody's, publicity, Quantum Fund, Rocky Vega, S&P, scam
Japan may be Looking at a “Lost Decade” Hat Trick
With the nuclear crisis in Japan, Moody’s is now worried that Japan could be looking at a third “lost decade” and a continued limping economy. For twenty years already, Japan has been compounding its load of government debt, which is already highest among the industrialized countries.
[Read more...]Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: credit rating, Debt and Deficit, DR EXTRA!, economy, Fitch, government debt, industrialized countries, Japan, lost decade, Markets, Moody's, nuclear crisis, Rocky Vega, Standard & Poor's
AAA Ratings: A Grim Fairy Tale
How the ratings agencies have managed to emerge from the credit crisis unscathed and unregulated is a mystery…and a sham.
“Nothing is ever clear or certain in public,? we wrote in The New Empire of Debt. “Every error is someone else's fault. That is why so many men prefer it. The public world is so surrounded in fog that he thinks he sees half-naked nymphs behind every tree and $100 bills under every cushion.?
[Read more...]Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: AAA credit rating, Addison Wiggin, credit ratings, Dagong Global, Debt and Deficit, Featured, Fitch, Investment News, Investment Strategies, Markets, Moody's, ratings agency, sovereign credit ratings, The Daily Reckoning
When Will the AA Batteries Run Out?
Dagong International Credit Rating, a new Chinese credit rating agency, purports to adhere to “fundamental principles of truthfulness, timeliness, and consistency.” It warns that “over-reliance on financing income and debt roll-over will ultimately lead to a strong reaction of bond market, thus when the borrowing costs and difficulties increase, the credit risks will burst dramatically.”
[Read more...]Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: bond market, currencies, Dagong International Credit Rating, Debt and Deficit, DR EXTRA!, emerging markets, excessive debt, Featured, Fitch, Gold, Markets, monetary flaws, Moody's, S&P
Rating Agencies Capitalized on the Debt Ceiling Fiasco
Now, as anticipated, a debt ceiling agreement has been reached and the wait is on to see whether the major rating agencies — Standard & Poor’s, Moody’s Investors Service, and Fitch Ratings — will reaffirm or downgrade the US’ triple-A status.
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