Top positive review
In Search of An Honest Capitalist!
on June 3, 2008
Jim Rogers, the consummate investor, and his new wife, Paige, went on a world tour near the beginning of the 21st century. For a self-made billionaire, Rogers had the most compelling reasons for taking this journey and the most extraordinarily open-ended timetable in which to accomplish it. His motives were simple. First, he wanted to find out for himself if the new global opportunities outside the United States for investing his money were all they were cracke up to be. Keep in mind that his travels took place just as globalization was taking off across the world and the collapse of the dot.com bubble was happening at home. To find that ideal economy required him and Paige to travel to see how a variety of newer economies were working from the ground up. What they discovered during this period of knocking around for three years and asking the tough questions of whomever was that many so-called revitalized national economies like Russia, South Korea, Iceland, South Africa, and Turkmenistan were at the time not sound and reliable places to sink money. For Rogers, much of his assessment came down to the criminal element being too firmly entrenched, trade tariffs too high, currency exchange too restrictive and graft and corruption too wide-spread for anyone in their right mind to take advantage of any potential business deals. In all these situations, Rogers never forgets to make the point that we live in a global economy that is both scary and adventuresome, where bad practices (the Russian Mafia) in one part of the globe have a tendency to spread and snuff out golden opportunities elsewhere. His return home in 2002 to more of the Greenspan era of low interest-rates and easy money policy confirmed in his mind that maybe things stateside ween't any better than abroad. A world flooded with US debt raises for Rogers and the likes of me the ominous spectacle of hyperinflation for years to come. Rogers' highly opinionated view of things is very effective in making the point that in this era of globalization, world economies on the whole have become corrupted by the American crazy urge to spend without sensibly investing. And that attitude of not playing by the rules of honesty, according to Rogers, is bad for business!