According to some people, the UK economy is “finished”. These opinions are mainly from the US and none more vocally than Jim Rogers, one of those uber-investors who have done very well for themselves and are now somehow given authority to comment on the world stage. You can see an interview with Jim Rogers here in which he says that the UK’s financial system is finished and sterling will fall further and the UK is not worth investing in. However when asked why, if he’s so sure of his opinion, that he’s not making money out of the fall in sterling he stutters and fumbles and them claims he “missed the boat”.
You all know my opinion on analysts and commentators like Jim Rogers, they have no idea what’s happening and to what degree it will continue. The situation is so vast and has so many variables that it cannot be predicted and forecasted. I’m sick of the lot of them!
I have one simple, blunt response to this man’s opinion on the UK: Fuck You!! This entire problem started in the US with dodgy mortgages sold around the world. The US financial system sent a toxic wave through ours. US manufacturing is utterly inefficient and their flagship companies including Ford, GM and Chrysler have been trading insolvently for years with no-one brave enough to let them collapse because of the fallout which would occur in their “great” economy.
Blind patriotism will not get the US and world economies out of their hole. I’ve maintained all along that what is needed is optimism, drive and simple level-headedness, a view shared by a few commentators. Turnover at one of my companies is currently less than 25% of what it was a year ago and we’re not going anywhere. We’ll still be here when all this is over and it infuriates me when the media concentrates on the “doom” of a retailer’s sales falling 3% when it doesn’t really matter. Get a grip and start looking to the future!
Recent Comments