Great stuff here from from the legendary Jim Rogers. My favorite quote in this piece was "the central banks are going to keep printing money until they run out of trees".
I couldn't agree more with Mr. Rogers. What I thought was interesting here was Jim's counter arguement to David Tepper's thesis.
Tepper as we all know by now told the world on CNBC that you need to own equities because stocks will go up if the economy improves and if the economy doesn't then stocks will still go up because the Fed will QE.
Jim Rogers counters this thesis by saying the same thing will happen with hard assets. If the economy improves then commodities will be in higher demand which should increase prices. If economy tanks then then the Fed will QE which will then cheapen the dollar. Commodity prices would then rise as a result because of the inflationary effect that a cheaper dollar would have on hard assets.
I like Jim's theory a lot more than Tepper's because at the end of the day you actually own something of value versus a holding bunch of stocks that are way overvalued from a P/E standpoint.
Food for thought.