| Rogers:" Sell pound. The UK economy has finished." | |
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| Jan 22, 2009 03:01 |   |
 | Some people can shake the financial markets by just saying some words. Jim Rogers is such a guy. He urges his followers to sell pounds in their hands because he thought that the UK economy has finished. He also says that he won't invest any money in the UK. Now you can imagine what happened to the UK economy. Perhaps, we shouldn't blame Roger for his words. However, the pound slumped, by almost 4 per cent at one point, falling to a seven-year low against the dollar and an all-time low against the Japanese yen. Not only Rogers but also other economists, financial gurus and analysts think that the UK economy is worse than any other in the world. What do you think of the UK economy? What are your opinions about Jim Roger?  |
| Jan 22, 2009 10:57 | #1 |
| Jim Roger? (IMO) a person to follow and believe as he "tells it like it is". Another person would be Jim Cramer of "Mad Money" only more on the U.S. domestic scene. Until just a year ago, I was unaware of the U.K. economy and all of it's ramifications, but it does appear to be heading down to the sewer. And, the U.S. both political and economic, seems to lag behind the U.K. several years and in the economic sense maybe even sooner. For those of you that are interested in future economic and financial prognostications "with no strings attached and no sugar coating" ......(GEAB)...Global Europe Anticipation Bulletin is a good site to follow. |
| Jan 30, 2009 17:12 | #2 |
| Yesterday the IMF (International Monetry Fund) predicted that the UK will be the most adversly affected country by the global financial crisis in the entire developed world. It also asserted that the UK recession will be the worst since the second world war. Two good reasons to sell UK pounds. |
| Jan 31, 2009 00:58 | #3 |
| Gary, are you a British? If so, you might can give us the first-hand information about the UK economy. |
| Jan 31, 2009 10:05 | #4 |
| No. What I really am still remains a mystery even to myself. I'm sure there are others on this site that definitely have more insight into the UK economy than me. If available to you, "The Guardian" and also several Chinese newspapers do a good analysis of the financial news. ( I say "good analysis"....that's a misnomer as some of these reports are just copies of the wire service) and let's face it......a lot of these financial institutions and gov't agencies are going to tell us what they think we want to hear or are going to "downsize" the seriousness of the situation. |
| Jan 31, 2009 11:41 | #5 |
| In terms of economic magnitude, productivity and effeciency, Britain is below USA. There is no reason that British pound has higher value than USD against other currencies. I guess Gary's ancestor is English but Gary is americanized. It's a shame that Gary has no ideas on his roots. |
| Jan 31, 2009 17:15 | #6 |
| Any country which is over represented by financial institutions while relying less on manufacturing will suffer severley from the current global fallout. Iceland is such a country and is paying a huge price. The UK has a broader industrial base but is still heavily biased to the financial industry. The medium term outlook for the UK economy is tumultuous and grim. |
| Feb 1, 2009 01:22 | #7 |
| Yes....when a country has lost it's manufacturing infrastructure or no investments are made in such....and instead are thru financial instruments...and the top 1%(?) earn more than the bottom 40%(?) of the wage earners....then that country is doomed to failure. Kiss it goodbye..... Compliments of my probably misquoted information from Kevin Phillips, Paul Kennedy and some other authors from the past. |
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