What's ahead for globe's economy? Follow the money w/Jim #Rogers himself, and find out why it's time to buy #Russia http://rt.com/shows/sophieco/161436-china-russia-investment-rogers/
JR: Well, I will have to say that Washington seems to be making one mistake after another and I don’t like saying it, since I’m an American citizen, but, you know, America is driving China and Russia together – America is driving Russia more and more to Asia… That cannot be good for America but they still keep making mistakes in Washington.
SS: So you’re saying the US and Europe unwillingly pushed Russia and China together?
JR: Unfortunately America seems to have really bungled this whole thing very badly. As you know, they’ve tried to instigate a coup in Ukraine against an elected government, and they did that somewhat successfully, but then they didn’t think through the consequences. Mr. Putin seems to have outsmarted us, Putin now is in control of Crimea, which Russians have controlled for many decades, so that’s not so unusual – what’s unusual is that America didn’t think through what they were doing, they seem to just react on a day-to-day basis, so now… Crimea is part of Russia, the Russians have more and more allies in Asia. I’m afraid America just didn’t think it through, they’ve bungled, they’ve acted on a day-to-day basis, and they’ve reacted to events instead of looking to the future and controlling events. Mr. Putin seems to have outsmarted Mr. Obama.
SS: You have called US actions in regards to Ukraine “another embarrassment for the US foreign policies”. Why? Why do you think the US got involved in the first place?
JR: That’s an extremely good question. Why did they get involved in the first place? Because we have incompetence in the State Department, in Washington. I guess they thought that they could take over control of Ukraine, which will give America more influence in central Europe and would certainly damage Russia, but in the end it seems to have strengthened Russia and has damaged America. You know, politicians make mistakes; bureaucrats make mistakes all the time. Looks like this time it was America that made the mistakes, and not Russia.
SS: Listen; why not invest in Ukraine in that case? I mean, obviously, that’s where the real turmoil was going on, you can buy really low right now…
JR: I certainly could, but I have only been to Ukraine twice in my life, but I’ll tell you – I have never been impressed by the government or the management of Ukraine. You don’t buy something just because it’s low – because it can get lower and lower and lower. I’d rather buy a sound situation, rather than one that is in turmoil and it’s going to continue to be in turmoil. If you’ve looked at the Ukrainian government over the past 10-15 years – you know what I’m talking about. Someday, of course, I might invest in Ukraine, but not now.
SS: I want to ask one more question about China. I’m thinking that China is still an emerging market, even though that it is huge and strong, and it hasn’t suffered any crises yet. But, it might at some point, like all markets do – so when that happens, how do other world markets protect themselves, is it even possible?
JR: Well, China is the second largest economy in the world, and if the second largest economy in the world has problems, it’s going to affect some people. If nothing else, the people who do business with China, will be suffering. That’s a lot of people, because it is such a huge economy now. It’s just like…if America has problems; it affects a lot of people. If Japan has problems, it affects some people. So there is no question that China will have problems – I don’t know what, or when, or why – but every country has problems, somewhere along the line. What is a little bit unusual is that it’s been a long time since China has had major problems. That is extremely unusual. That’s one reason I’m not buying many shares in China right now: they have big debts, internal debts, so I’m waiting in case there’s a problem coming out of China. If there is problem or some problems, I hope, I’m smart enough to buy more china.