Jim Rogers: S&P Could Go to 50,000 and DOW to 1 million

[lrm21]

Puts this New Bull Market in perspective.

 

[short&naked]

Quote from Businessman:

+1
He told people to get out of pound exactly at the same time that his mate Soros admitted he covered his GBP shorts. Around the 1.35 price.

Exactly right!

 

[niceneasy]

It's not fair to compare Zimbabwe to the US. The weather in Zimbabwe is much nicer and so are the people. Plus the banking system is more adequately capitalized.

 

[gigsup]

It is shaping up to be a Jim Rogers kind of market. You know where all hell breaks loose.

 

[murray t turtle]

Quote from Scataphagos:

Don't you think they'd just OWN the farm?

============================
Own/manage it;
neat article

 

[piezoe]

Quote from Ivanovich:

Does Rogers even trade? I thought I read somewhere that no one even can say what he trades or through whom he trades.

He has said he is no good at short term trading. He does state what his positions are from time to time. For example, some time back he stated that he was short bonds.

 

[tmarket]

Poor guy, farmers have been screwed every which way to Sunday... They need a better way to be independent of their processors.

http://www.detnews.com/article/20090602/BIZ/906020336/-1/rss

Tuesday, June 2, 2009

Milk price crash takes toll on dairy farmers
Frustration builds over processors' profits, failing farms
Christopher Leonard / Associated Press

Barnhart, Mo.-- A collapse in milk prices has wiped away the profits of dairy farmers, driving many out of business while forcing others to slaughter their herds or dump milk on the ground in protest. But nine months after prices began tumbling on the farm, consumers aren't seeing the full benefits of the crash at the checkout counter.

The average price for a gallon of milk at grocery stores last month is down 19 percent from its peak of $3.83 in July. Farmers, on the other hand, got $1.04 a gallon in April -- 35 percent less than they were paid last fall.

Price disparities are a fact of life both for farmers and anyone who shops at a supermarket, but the nature of milk -- how it's stored, priced and sold around the world -- makes the gap all the more dramatic. In fact, the price that farmers get has been wildly volatile for years.


With each turn, proposals are floated to end the pricing seesaw, which at one extreme squeezes the profits of farmers and the other squeezes dairy processors. Any fix that boosts the price of milk runs the risk of bumping up how much consumers pay, too.

Today, frustrations are spilling over as the price crash creates widely divergent fortunes within the milk industry, boosting profits for the middlemen like dairy processors while pushing farmers to the edge of bankruptcy.

Missouri dairyman Darrell Kraus spends almost as much today on hay and other supplies for his herd of 160 cows as he did a year ago, but he's getting paid less for a gallon of milk than his father in the 1970s. He blames middlemen who buy the milk from the dairies, process it and sell it to grocery stores at higher prices.

"Somebody's getting a cut of this, but it's not the dairy farmer," he said. "It's sad, but they're going to see a lot of dairy farms go out of business."

Last fall and summer, milk processors and supermarkets swallowed losses because of high wholesale milk prices and government-mandated ceilings on what they can charge. They're now recouping some of what they lost and anticipating a rise in prices this winter, said Mike Nosewicz, vice president of dairy operations at Cincinnati-based Kroger Co., which operates its own dairy processing division and sells milk through 2,400 supermarkets.

At the heart of the problem is the nature of milk. Unlike grain farmers who can hold out for better prices by storing crops in a silo, dairymen must sell raw milk to processors or it spoils.

 

[TrueProp]

Dow 1 million or S&P 50k? Ok. As a trader, the only solution left is to make an absolute killing out of the situation. Make enough money to buy a bunch of farms, hire farmers to run them.

Own some gold in the process. Commodities pulled back a little today to take a little breather. He may be somewhat right, probably not quite to the extent of his hyperbole.

One way or another, the market is in an uptrend. Short it at your own peril. 50k or 1 million won't happen overnight. I don't think it happens at all personally -- not this century. If it does, I'll catch a nice portion of it.

 

[TraDaToR]

Quote from niceneasy:

It's not fair to compare Zimbabwe to the US. The weather in Zimbabwe is much nicer and so are the people. Plus the banking system is more adequately capitalized.

You made my morning.

On a more serious note, life expectancy for women is under 40 years old there right now.

 

[christianhgross]

He was saying the sky is falling, the sky is falling...

Not that the market is going up and he is caught with this pants down he calls this a bear market rally! Yeah that makes sense. So a "bear market" rally to 50,000 is a bad thing because we are going to have what problems?

This is a case of sour grapes for being outed as somebody who completely misread the market.