By Julie Crawshaw
Legendary investor Jim Rogers sees a dismal future for agriculture worldwide. "Farming has been a disaster, and unless something happens very quickly, we're going to have no food at any price in a few years," says Rogers.
â€œThe average age of a farmer in the U.S. is 58 years old,â€ Rogers says.
â€œThe largest group of suicides in the U.K. is farmers because farming is such a horrible business. Hundreds of thousands of Indian farmers commit suicide every year.â€
The UK Independent reports that Oxfam, a leading agency, has warned that millions more people across the world will be locked into a cycle of hunger and food crisis unless governments tackle a "broken" production system which is being exploited by speculators and will cause a doubling in basic foodstuff prices in the next 20 years.
Meanwhile, Rogers says his money is still on China, even though water is a problem there.
"The only thing you can not recover from is water... China has a horrible water problem in the north. India has the worst water problem, there's no question about that,â€ Rogers tells the BBC. â€œIf China doesn't solve its water problems then there's no China story."
Rogers says there will be huge setbacks in Asia in the future, but notes that the U.S. suffered through wars, depressions and other trials and still managed to have a great 20th century.
â€œWhy would I take my money out of a place that is having a dip (China) and put it into a bankrupt country (like the U.S. or U.K.)?â€ Rogers asks.
â€œAnd, by the way, I can always sell things short."
The guy would buy a death derivative on his mother (probably did) but he's inside the big money circles. (from China )