Jim Rogers: Markets Soaring “But the World Is Worse Off”

Posted by Jim Rogers via Yahoo Finance

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Stocks, gold, energy and other commodities soared Tuesday after the Bank of Japan announced plans to dramatically expand its quantitative easing program. The BOJ’s action spurred expecations for similar efforts by other central banks, Bloomberg reports, which helped the Dow climb 1.8% to within reach of 11,000. Meanwhile, gold hit another new record above $1,340 an ounce, silver reached a 30-year high and tin jumped to a record near $26,000 a metric ton.

But don’t confuse strength in such “risk” assets with an improving economy, says Jim Rogers, chairman of Rogers Holdings.