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| Preposterous Statements - Jim Rogers: "No Food at Any Price"; Barton Biggs: " U.S. Needs Massive Infrastructure Program"
It does not help your case when you make absurd statements to support your views. All it does is damage your credibility. Here are a couple of completely unrelated viewpoints that will show what I mean.
"No Food at Any Price"
Speaking on food shortages, Jim Rogers says Global Agriculture Supply Worsening May Spur Food Shortages
The global agriculture supply situation has worsened and a failure to boost food production fast enough to meet demand may lead to shortages, said investor Jim Rogers, chairman of Rogers Holdings.
“We’ve got to do something or we’re going to have no food at any price at times in the next few years,” Rogers said in a Bloomberg Television interview with Rishaad Salamat today in Singapore. “I still own agriculture. If I found something to buy, I would buy it.”
Rogers likes agriculture. Maybe he's right, and maybe not. However, the notion “We’ve got to do something or we’re going to have no food at any price at times in the next few years” is one of the more blatantly absurd things regarding food shortages that I have ever heard.
US has record grain forecasts. Even if you do not believe those forecasts, the US is going to have a good crop. How does that translate to "no food"? The short answer is "it doesn't".
Many reported shortages are weather-related. Some "alleged" shortages are not shortages at all, but unavailability because of government price controls. The rest of the "shortage" problem is higher prices caused by speculation and/or rampant inflation in China and India.
The idea there will be no food at any price is absurd. There may not be food available at government mandated prices, but that is certainly not what Rogers said. | |
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Jim Rogers off his rocker? from Mish
