{"id":14791,"date":"2011-11-10T15:49:00","date_gmt":"2011-11-10T15:49:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/global-collapse-a-done-deal-says-jim-rogers\/14790\/"},"modified":"2011-11-10T15:49:00","modified_gmt":"2011-11-10T15:49:00","slug":"global-collapse-a-done-deal-says-jim-rogers","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-collapse-a-done-deal-says-jim-rogers\/14791\/","title":{"rendered":"Global Collapse a Done Deal, says Jim Rogers"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><br \/>\n<!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><br \/>\n<!--\/mfunc--><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><em>By Dominique de Kevelioc de Bailleul<\/em><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">As Rogers moved from India&#8217;s <em>Economic Times<\/em>, to <em>Fox Business<\/em> and over to his latest stop, <em>CNBC<\/em>, his message to investors is: If you think 2008 was bad, 2012 will be worse.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">&#8220;We&#8217;re certainly going to have more crises coming out of Europe and America; the world is in trouble,\u201d Rogers told CNBC. He said everyone has spent beyond their means, public and private, \u201cand it&#8217;s all coming home to roost.\u201d<\/span><\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Rogers&#8217; more dire message recently speaks to the consensus of other thoughtful and unencumbered minds of economics and finance this week, especially today, as <\/span><span style=\"font-family: Verdana,sans-serif;\"><em>Bloomberg<\/em><\/span><span style=\"font-family: Verdana,sans-serif;\"> featured <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> standard advocates Jim Grant and Jim Rickards during a lengthy joint discussion with the two men on <\/span><span style=\"font-family: Verdana,sans-serif;\"><em>Money Moves<\/em><\/span><span style=\"font-family: Verdana,sans-serif;\">. <\/span><strong><a href=\"http:\/\/oi.vresp.com\/?fid=149ce5c982\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #0000ff;\"><span style=\"font-family: Georgia;\"><span style=\"font-size: x-small;\"><span style=\"text-decoration: underline;\">Sign-up for my 100% FREE Alerts!<\/span><\/span><\/span><\/span><\/a><\/strong><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Rogers doesn&#8217;t refer to gold standards much as Grant and Rickards have lately, but he has discussed his fear of central bankers and their printing presses running wild in response to the crisis. Today, he believes the global financial system cannot weather a multiple of more debt added to the already highly leveraged central banks balance sheets prior to 2008.<\/span><\/p>\n<p>\u201c<span style=\"font-family: Verdana,sans-serif;\">Last time, America quadrupled its debt. The system is much more extended now, and America cannot quadruple its debt again,\u201d Rogers said. \u201cGreece cannot double its debt again. The next time around is going to be much worse.\u201d<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\">Jim Grant echoed Rogers, during today&#8217;s <em>Bloomberg<\/em> interview, pointing out that by his calculations the NY Fed is \u201cleveraged more than 100 to 1,\u201d while in the next breath chiding the ECB for its profligate activities during the crisis, as well. <\/span><\/span><\/p>\n<p>\u201c<span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\">Italian bond yields didn&#8217;t drop on their own,\u201d he said, referring to this morning&#8217;s miraculous 170 basis points turnaround in the Italian 1-year bill rate moments following the auction.<\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\">In fact, piling on to the sudden slew of complaints about the ECB, <span style=\"color: #000000;\">JP Morgan&#8217;s Michael Cembalest<\/span> issued a note today, dispelling the rumor that the ECB has been so stingy, thus underscoring Rogers&#8217; point, that, though money has been printed in gigantic quantities, the problem has just gotten worse\u2014not better\u2014not more liquid\u2014but increased insolvencies.<\/span><\/span><\/p>\n<p>\u201c<span style=\"font-family: Verdana,sans-serif;\">To-date, that\u2019s what [bank support] the ECB has done: of the 1.1 trillion Euros extended to European banks and governments (through sovereign\/covered bond purchases and repo), 970 billion has been given by the ECB,\u201d JP Morgan&#8217;s Cembalest stated.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">So with both the Fed and ECB piling more debt a top unserviceable mounds of previous debt, the critical mass or larger debt levels and higher <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> set off the next crisis. <\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">According to Martin Armstrong, founder of Princeton Economics, the breather between crises shorten until the final irredeemable breaking point is reached. Rogers believes that point is upon us, now, to as far out as 18 months. Those following Rogers know how conservative he is when discussing time horizons, which may suggest that an event may come closer to James Turk&#8217;s expectation of mere weeks.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">And he concluded on that point, &#8220;In 2002 it was bad, in 2008 it was worse and 2012 or 2013 is going to be worse still &#8211; be careful.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n.<\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Mr. Dominique de Kevelioc, de Bailleul <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Dominique de Kevelioc de Bailleul As Rogers moved from India&#8217;s Economic Times, to Fox Business and over to his [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/14791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=14791"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/14791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=14791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=14791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=14791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}