Monday, July 14, 2014

Jim explains why we need more farmers

Agriculture has been in a terrible business for 30 years. Its been so bad the world has now consumed more than its produced for the last decade. When you consume more than you produce its going to come from an inventory. We've built a big inventory over the 30 years but now the inventory's world wide are at historic lows. So we're running out of food. Worse than that, we are running out of farmers. The average age of farmers in America is 58, Japan is 66, in Canada its the oldest in recorded history. In Australia its 58. The highest rate of suicide in the UK is in Agriculture. Its a terrible business for many reasons. 

At the same time we dont have young people becoming farmers. More people in America study public relations than of Agriculture. We got old people dying and getting out of the business, no young people coming in. 

Somebody has got to go into the fields. Even when the fields are automated, somebody has got to do it. And if everybody is dead and everybody is studying public relations, where is the food coming from. 

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.