Monday, January 19, 2009

Rogers Puts Money Where Mouth Is...but not Family

Please forgive a little cynical sniping from the sidelines...

Jim Rogers, who at one time made a lot of money on Wall Street, has apparently abandoned his home country for a more promising locale. He's pouring his money into China because, "This is going to be the new centre of the world, not just the financial but the political world."

On current measures in the U.S. to deal with the crisis, Rogers says: "The idea that you can fix a period of excess borrowing and excess consumption by more borrowing and more consumption to me is just ludicrous."

I'm not trained as an economist, but I must admit that he has a point.

On the other hand, he has essentially nothing to say (at least in this short Reuters article) about the fact that China's entire model has been built on Americans continuing to buy their stuff.

The other thing that I just don't get is, if China is "the new centre of the world", then why did Rogers move his family to Singapore?