2009 will be the year of Total decline for US Jim Rogers
Uploaded by EconomyMeltdown on Dec 18, 2008
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In December 2007, Rogers sold his mansion in New York City for about 16 million USD and moved to Singapore. This is due mainly in his belief that this is a ground-breaking time for investment potential in Asian markets. Rogers’ first daughter is now being tutored in Mandarin to prepare her for the future, he says. “Moving to Asia now is like moving to New York City in 1907,” he said. Also, he is quoted to say: “If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia.” In an CNBC interview with Maria Bartiromo broadcast on May 5, 2008, Rogers said that people in Asia are extremely motivated and driven, and he wants to be in that type of environment so his daughters are motivated and driven. He said during that interview that, this is how America and Europe used to be. He chose not to move to Hong Kong or Shanghai due to the high levels of pollution causing potential health problems for his family. His second daughter was born in 2008.
If you’re a regular reader of this blog, you know that investor Jim Rogers is a huge fan of China. In fact, he’s so sold on its future that he moved his family from New York City to Singapore at the end of last year. Why Singapore and not China? I discussed this in Investorazzi’s sister blog, Boom2Bust.com, back on December 27 of last year. On Christmas Eve, CNN Money got the chance to speak to the CEO of Rogers Holdings. From that post:
CNN MONEY: Why move to Singapore and not Shanghai or Beijing? ROGERS: Well, we would like to move to China, but the air is so terrible, the pollution is so bad, that we can’t bring ourselves to do it. Everything works in Singapore. It’s an astonishing place. It’s got the best education system in the world. It’s got the best health care in the world. And it’s Chinese-speaking. Our 4-year-old daughter, Happy, goes to a school where they only speak Chinese. One of our motivations was that she continue to speak Chinese. It may not be as exciting as Shanghai or New York, but it’s exciting enough for me.
Fast forward to today. Sounds like Jim and his family are settling in just fine, according to a piece by Mak Mun San of the Singapore publication The Straits Times. In reference to Jim, his wife, Paige Parker, and their two daughters, five-year-old Hilton Augusta, or “Happy,” and three-month-old Beeland Anderson, the reporter wrote:
The couple sold their New York mansion and moved to Singapore last December so that Happy can learn Chinese in a Mandarin-speaking environment. Rogers, who co-founded the Quantum Fund with legendary investor George Soros in the 1970s, has repeatedly said he believes China will be the next great country in the world.
“The best gift we can give our children is to let them learn Chinese and prepare them for the future,” he tells The Straits Times, while carrying the baby in his arms.
From: CNN Money
You mention the terrible pollution in China. Do environmental and political issues give you pause as you call this the Chinese century?
First of all, the environmental problems are a huge opportunity. Somebody’s going to make a fortune on that. I talk about that in the book and mention some of the companies that will be trying to address the problems. Can they solve their problems? There are going to be horrible setbacks along the way. There certainly were in America as we grew and boomed. In 1907 our whole system collapsed and went bankrupt. Turns out that was a good time to buy. That’s going to happen in China too. They will probably have political setbacks, environmental setbacks. I don’t know when they’re going to be, but take advantage of them.
Lessons for Life and Investing with Author, Investor Jim Rogers (on his treadmill) — More on why he moved his family to Asia. People aren’t waking up fast enough while America moves closer and closer to financial collapse, dictatorship and police state. Ron Paul and Gary Johnson are the only candidates who have the solutions, and they’re being ignored. Should we move to Asia?