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Rogers Holdings Chairman Jim Rogers on how investors can gain from a potential boom in the agriculture industry.
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Forget the stock market is the next investing -- down on the far investor Jim Rogers chairman of Rogers holdings says agriculture.
As the next big thing he joins me now to welcome to the show great to see you I'm delighted to be is there that you should become a farmer and I think that -- Well I what you learned to drive attract as for 2000 bottoming because farming is going to be the one of the great industries of the next twenty or thirty years -- is going down.
Agriculture is going up.
How why is it says sustainable.
Because it's been a disaster for thirty years we're running out of everything including farmers the average age of farmers and America's 58.
In Japan it's 66.
And Australia's with 58.
I -- -- ten -- we're not gonna -- -- farmers unless something happens to attract.
Labor management and capital to agriculture.
But do we have a big agribusiness this is it run by corporations do you really need all of -- somebody's got to pull into the appeals that somebody's got to drive a tractor.
I mean -- yes everything is becoming more automated but somebody has to be the farmer.
And -- -- dying -- always see a big boom and farmlands.
Is that continuing it's starting it's gonna.
Here you can imagine how big is going to be it's gonna be a huge boom and -- that you know in America more people -- public relations and said he agriculture.
We don't have any farmer's hands and -- prices go much higher.
We're not gonna be food at any price like and that's for the fact that prices are up that's for darn sure tell you know as an investor how I take advantage of this.
First -- it's become a farmer if you don't wanna become a -- you can think about tractor company has received companies -- fertilizer companies.
You can if you don't want to do any of that.
You can get -- Lamborghini dealership in Iowa -- -- coming population of Ferrari dealership in Nebraska because all the pharmacy going to be the rich people.
Stockbrokers are gonna be driving taxis.
The Smart ones will learn to drive tractors so that they can work for the fun of the farmers gonna have the money.
Tell me about your thoughts more broadly about US stocks you just tell me the break that you don't own any of that why is that.
Well because next who's going to be very bad in the American stock market.
Remember we have an election this year the government is doing everything you can -- get reelected the next is going to be a disaster.
We've had recessions every four to six years since the beginning of the republic.
Next year's Fortis six weighted -- -- say next year's going to be bad -- next you're gonna be so bad.
-- election's going to be over.
They're spending all the money this year putting all the money this year so next -- things and Gerri what is six years every -- -- -- we've had recessions.
As slow down since beginning of time.
We're gonna have another -- in the next year to 2013.
Is going to be very bad.
God knows what's gonna happen in 2014.
We make of the EU and that lots of talk this week again that Greece may -- dropped out of the European Union.
Do you think that'll happen what's the future for them.
Of that may be one of the reasons world hasn't slowed up next year.
It looks as though Greece is going to pull out the high -- pulls out -- can be bad for Greece.
But it might be good for the yield because -- -- the -- on the shattering about what's gonna happen to the Euro.
I don't -- the Euro at the moment.
But it could posing a great buying opportunity if it happens.
No I think that the people in Europe and other places are rejecting austerity that seems to be the medicine that we need to.
To get these economies moving again.
Do you see any way out of that box.
No of course -- nobody likes austerity I want a free lunch to hit home -- -- free everything I want to go to the beach and -- -- though just like everybody else does.
But somebody's gotta come up with the money and somebody will come to the realizations than -- out of money.
We got to do something about our out of money.
And I just not just does the Europeans to the Greeks Italians everybody you were talking in the break about how Americans capital alone from US banks for for love or money -- -- talking about.
Well of Americans who live abroad I live in Singapore which is an -- And Americans who live abroad foreign banks will not deal with a -- anymore when the throwing us out.
Because Washington is coming over these unbelievably -- regulations and controls so the foreign banks -- just saying.
Sorry we love you but would we can't keep America as we cannot view of Americans anymore so it happening to Americans not to we live in the land of the free Jerry.
So we're free not to -- for a banks JPMorgan Chase because it's been a big story.
This week and it and granted two billion is not a big loss compared to their assets but.
Are you concerned about US banks I'm very concerned that I US banks still have -- Obama.
-- short seller of JPMorgan's calls so mean -- wanted to -- more problems in this and you gonna see more problems in American banks over the horizon this is not over yet generic.
You worried about 2013.
-- -- not make myself -- -- made yourself very clear and putting my money in my mattress and finding -- Jen Rogers thanks for coming on it's a pleasure to see you get a mattress on the phone at.
-- thank you thank you.
