Friday, November 22, 2013

Jim Rogers on Trader wars, Japan

Nobody ever wins a trade war, a currency war, which is just another kind of trade war. Everybody loses in the end , some may temporarily come out ahead but it’s temporary if nothing else. 

The cost of living of many people is going up, and it certainly is, my gosh, in Japan you have a currency that’s down 25% in a year. Well I assure you the Japanese are feeling that because everything that Japan imports has gone up fairly substantially AND even the things that they don’t import are up because the Japanese manufacturers and the Japanese producers can raise prices because they don’t have to worry about competing with the foreigners any more.