Here's the link to the video interview (runs about 9 minutes).
Joking aside, his expectation that wage inflation would follow commodity inflation was an insight I found interesting. The host hassled Jim a bit about this - and a riled up Rogers is always entertaining. Personally I was under the guise that broader inflation was not possible without wage inflation - according to Rogers, the causality is actually reversed.
“Everybody watching this show knows that prices are going up,” Rogers said. “Prices are going up, that’s called inflation and ultimately wages are going up too… anyway that’s not good for stock markets.”Jim also believes many Western European nations are bankrupt, and need to restructure their debt.
“You need to let Ireland go bankrupt. They are bankrupt, why should innocent Germans, Poles or anybody pay for mistakes made by Irish politicians,” Rogers said.Source: CNBC
Greece is also insolvent, Portugal has a liquidity problem and countries like Belgium, France and even the UK have various problems, he added.
Hat tip to The Daily Crux for the original link.
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