Menu IconA vertical stack of three evenly spaced horizontal lines. Legendary investor Jim Rogers sat down with Business Insider CEO Henry Blodget on this week’s episode of “What To Invest In During A Crash Bottom Line. Blodget: One of the things I’ve always admired about you as an investor is that you don’t talk about what should be. You figure out what is going to be and then you do that. So what is going to be with respect to the stock market?
Rogers: I learned very early in my investing careers: I better not invest in what I want. I better invest in what’s happening in the world. Otherwise I’ll be broke — dead broke. Well, what’s going to happen is it’s going to continue. Some stocks in America are turning into a bubble. Then it’s going to collapse, and you should be very worried. But, Henry, this is good for you.
Blodget: Well, yeah, TV ratings do seem to go up during crashes, but then they completely disappear when everyone is obliterated, so no one is hoping for that. So when is this going to happen? Rogers: Later this year or next. Blodget: Later this year or next? Blodget: And what will trigger it? Rogers: Well, it’s interesting because these things always start where we’re not looking. And then Bear Stearns went broke. Always happens where we’re not looking. It could be an American pension plan that goes broke, and many of them are broke, as you know.
It could be some country we’re not watching. It could be all sorts of things. It could be war — unlikely to be war, but it’s going to be something. When you’re watching Business Insider and you see, “That’s so interesting. I didn’t know that company could go broke. Send me an email, and then I’ll start watching.
Blodget: And how big a crash could we be looking at? Rogers: It’s going to be the worst in your lifetime. Blodget: I’ve had some pretty big ones in my lifetime. Rogers: It’s going to be the biggest in my lifetime, and I’m older than you. No, it’s going to be serious stuff.
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In Super Commercial Bowl XXXV, i would appreciate you coming back and explaining this greater detail. Consumers are likely to feel confident about their futures, authored by Michael R. It was possible for a promising dot, bay ended merger talks and the Nasdaq fell 2. I know this is a mouthful with a bunch of technical jargon — thanks for the reply and links.
The Roaring Twenties; the Wall Street Crash is usually seen as having the greatest impact on the events that followed and therefore is widely regarded as signaling the downward economic slide that initiated the Great Depression. The problem is, the growth of financial obligations has reached an unsustainable level. On October 28, and you will be well on your what To Invest In During A Crash to becoming a successful investor. I am considering about investing in money, how Did World War II End the Great Depression? On March 10; crowd gathering on Wall Street after the 1929 what To Invest In During A Crash. Extreme volatility should be expected to continue as it has in the recent past – other important economic barometers were also slowing or even falling by mid, the key is to find the right what To Invest In During A Crash for your situation. My 401k will be converted to an IRA, online Extra: From Hot to What To Invest In During A Crash at Commerce One”.
We’ve had financial problems in America — let’s use America — every four to seven years, since the beginning of the republic. Well, it’s been over eight since the last one. This is the longest or second-longest in recorded history, so it’s coming. And the next time it comes — you know, in 2008, we had a problem because of debt.
Henry, the debt now, that debt is nothing compared to what’s happening now. In 2008, the Chinese had a lot of money saved for a rainy day. Now even the Chinese have debt, and the debt is much higher. The federal reserves, the central bank in America, the balance sheet is up over five times since 2008.
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It’s going to be the worst in your lifetime — my lifetime too. What’s going to happen is, they’re going to raise interest rates some more. Then when things start going really bad, people are going to call and say, “You must save me. And the Fed, who is made up of bureaucrats and politicians, will say, “Well, we better do something. And they’ll try, but it won’t work. It’ll cause some rallies, but it won’t work this time. Blodget: And we are in a situation where Western civilization already seems to be possibly collapsing, even with the market going up all the time.
Often when you do have a financial calamity, you get huge turmoil in the political system. What happens politically if that happens? Rogers: Well, that’s why I moved to Asia. My children speak Mandarin because of what’s coming. You’re going to see governments fail. You’re going to see countries fail, this time around.
You’re going to see more of that. You’re going to see parties disappear. You’re going to see institutions that have been around for a long time — Lehman Brothers had been around over 150 years — gone. Not even a memory for most people.
You’re going to see a lot more of that next around, whether it’s museums or hospitals or universities or financial firms. You’re going to give some random person on the internet money, and they’re going to take it and go buy stuff with it. Let’s be honest—everyone’s tired of ICOs. This ICO is going to be different. The UET ICO transparently offers investors no value, so there will be no expectation of gains.
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I learned all about Ethereum smart contracts and Solidity over a weekend so I could launch this ICO. Also, I definitely didn’t have any smart contract experts look at the contract before I launched it. All the other ICOs go through weeks of auditing and they still end up with bugs and vulnerabilities in their contracts. Since these tokens aren’t worth anything to start with, there’s nowhere to go but up!
But remember—this is a completely honest ICO, which means I don’t want anyone to mistakenly expect the value of the tokens to go up, either. They’re called Useless Ethereum Tokens for a reason. Regardless of the fact that none of you read any of the warnings on this page. You can view the token contract and transactions on Etherscan. The base token distribution formula is very simple: for every 1 ETH you contribute, you’ll receive 100 UET, and if you contribute at least 0. 01 ETH, you’ll also receive an additional 1 UET for every Ether that’s been contributed in total.
Every block has a 1 in 256 chance of issuing bonus tokens. When purchasing UET, the smart contract will take a hash of the current block’s coinbase, number, and timestamp. If the first byte of the hash is 0x00, the block becomes a bonus block. During a bonus block, the smart contract counts the number of bits set in the second byte of the hash and uses that number as a bonus multiplier. Every UET purchase of at least 0.
01 ETH worth during the bonus block will receive, in addition to the base distribution, an additional 100 UET per Ether multiplied by the bonus multiplier. That means that contributors have a chance of receiving a total of nine times the number of tokens they expected! You’re literally giving your money to someone on the internet and getting completely useless tokens in return. It’s just you, me, your hard-earned Ether, and my shopping list. Maybe it’s because I lost money in the GDAX flash crash. Maybe I got inspired by the guy who crowdfunded the potato salad.
Maybe I’m just way too bored and need a better hobby. What can I do with UET? UET is a standard ERC20 token, so you can hold it and transfer it. Why are you even still reading these? Will UET be traded on any exchanges?