Jim Rogers and Future Careers

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kaberUSA

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So, we've heard Jim Rogers and he's been telling everyone that in the future all the money to be made is in agribusiness. He's even going off saying the JD/MBA crowds will be out of a job and the farmers will be the rich ones.

Haven't we heard these same calls back in the 70s when we were going through stagflation? What's different about this time? I know farmers are getting older and will be retiring soon but besides that what else has changed ?

I'm looking to get into that JD/MBA crowd but if Jim Rogers is saying farming is going to be where it's at I believe I should take a second look. In the 70s if someone said dentists would be making a lot of money you'd be laughed at and if someone told you JD's would be making a lot of money in the 40s-50s you'd also be laughed at. Economies have changed and the demand for certain groups has fluctuated through recorded history.

Appreciate any thoughts on this matter
 
kaberUSA said:
I'm looking to get into that JD/MBA crowd but if Jim Rogers is saying farming is going to be where it's at I believe I should take a second look.
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Figure out the philosophy that drives you and choose a career that helps you focus on accomplishing that philosophy. You will most likely be a lot happier.

I think a lot of the JD/MBAs, etc. never confront that question and work themselves into the ground to avoid answering it. Another batch of them are on Wall Street so they can get the girls they never could in high school but still seem to fail miserably at that also. Good luck.
 
kaberUSA said:
So, we've heard Jim Rogers and he's been telling everyone that in the future all the money to be made is in agribusiness. He's even going off saying the JD/MBA crowds will be out of a job and the farmers will be the rich ones.

Haven't we heard these same calls back in the 70s when we were going through stagflation? What's different about this time? I know farmers are getting older and will be retiring soon but besides that what else has changed ?

I'm looking to get into that JD/MBA crowd but if Jim Rogers is saying farming is going to be where it's at I believe I should take a second look. In the 70s if someone said dentists would be making a lot of money you'd be laughed at and if someone told you JD's would be making a lot of money in the 40s-50s you'd also be laughed at. Economies have changed and the demand for certain groups has fluctuated through recorded history.

Appreciate any thoughts on this matter
Click to expand...

Look at the fundamentals.
 
anything in organic farming is the way to go. They are making 2-4x more than chemical farmers for their crops/milk/livestock
 
That bloomberg article is crap. Like farming cannot exist without easy credit. So no one ate before the age of consumer credit these last 30ish years? Did everyone starve pre-fed?
 
Malakai said:
That bloomberg article is crap. Like farming cannot exist without easy credit. So no one ate before the age of consumer credit these last 30ish years? Did everyone starve pre-fed?
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you need "easy credit" (or savings) to start a farm. try not paying your workers until after harvest.
 
Vineyards are doing very well. The profit per acre is about ten times as much as many other crops. However, people and investors are flooding into the field fast, especially in Virginia.

I could see a glut in the next few years with vintners bailing out.
 
I might just continue to save and invest in a farming company. Not sure I'd be willing to take that much risk and actually become a farmer. I guess I'm gonna raise my cut point for law schools (top 15 only). The ABA the other day basically said there are 47,000 or so new law school grads and all of you are thinking your going to land a big law job..

The fact of the matter is you are living in fairy tale land and should not hold off waiting for the big law jobs and should accept any type of positions as soon as possible.. They then suggested looking into working for the government. I'm really not very keen on going to school for three years, getting $80,000 in debt and coming out making 40-55k.. Am I right? If you make 45k a year and you have a $77,000 loan to pay off, if you factor in loan payments and taxes your take home is not a very good ROI?

Then factor in a wife, two kids, two dogs, a house, food, insurance, property taxes, parents (if you have older parents..) you might get lucky to save a 100 $ a month ?

But the flipside could be in three years, the fed will manage to inflate something else and the economy will be going through a super boom again. George Soros and the other visionaries don't think this will happen though. Apparently the baby boomers are retiring and this si going to be a huge drain on the dollar
 
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Not really

danberkeley said:
you need "easy credit" (or savings) to start a farm. try not paying your workers until after harvest.
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As another poser pointed out, CSAs and other forms of direct financing are avaialble. In case you don't know, in a CSA, members of the CSA pay the farmer up front for a share of his crop. The farmer gets his working capital and the members get an assured food supply. No banks. No interest. No credit. No debt. No government subsidy. And I am sure there are other ways to make a similar arrangement.

Life without banks is possible.
 
Depends

If you think we are heading for a currency collapse and the end of the dollar as the world's money (as I believe) and you think this will result in an economic catastrophe for the US (as I do) and that we will be living in a much simplified, localized, less-prosperous economy (as I think probable) then you might want to consider how you plan to fit into that inflationary depression economy.

I currently work as an attorney but I believe there will be very little market for my skills in an economy where people are mostly worried about getting enough to heat and keeping a roof over their heads. So I am making plans for fitting in to that simplified, near-subsistence economy. I suggest you do the same. Figure out what impoverished people will need and then acquire the tools, skills, and materials to supply one or more of those needs.

Good luck
 
As we progress into an economy based more on production and less service, MBA's will be dead in the water. We already have enough chiefs and not enough Indians.

Perhaps think about not going to college right away (unless you have a full or mostly-full scholarship) instead of potentially wasting money on a dead-end.

These paper-pusher jobs are part of the phony economy that's blowing up. Sure, there will always be a need, but productive jobs are where the boom should be as we transit into more of a real economy.
 
Fuel costs play a big role both in production and transportation. Much of our food travels thousands of miles to get to our supermarket. Now, some are looking at ways of growing intensively using permanent beds without disturbing the soil. This means less fuel, less fertilizer, and less herbicide especially if selling locally.
 
Acala said:
As another poser pointed out, CSAs and other forms of direct financing are avaialble. In case you don't know, in a CSA, members of the CSA pay the farmer up front for a share of his crop. The farmer gets his working capital and the members get an assured food supply. No banks. No interest. No credit. No debt. No government subsidy. And I am sure there are other ways to make a similar arrangement.

Life without banks is possible.
Click to expand...

I just read up on CSAs. Either way, the consumer pays for the harvest BEFORE it is harvested. Where are the consumers getting the money to pay for the costs to produce the harvest. The consumers have to save their money so that they can "buy shares" in the farm or pay up front for the harvest. Some sort of savings is required and it does not need to be through a bank since the consumers can keep their money in their pockets. Not much savings is required once a CSA farm is already developed.

Anyway, getting back to the point I was making, a NEW farm, where land, equipment and machinery, seeds, labor, buildings, and improvements have to be paid for immidiately (either through cash or credit).
 
Acala said:
If you think we are heading for a currency collapse and the end of the dollar as the world's money (as I believe) and you think this will result in an economic catastrophe for the US (as I do) and that we will be living in a much simplified, localized, less-prosperous economy (as I think probable) then you might want to consider how you plan to fit into that inflationary depression economy.

I currently work as an attorney but I believe there will be very little market for my skills in an economy where people are mostly worried about getting enough to heat and keeping a roof over their heads. So I am making plans for fitting in to that simplified, near-subsistence economy. I suggest you do the same. Figure out what impoverished people will need and then acquire the tools, skills, and materials to supply one or more of those needs.

Good luck
Click to expand...

I dunno what to do, I think I'm just gonna keep my cut point at a T-10 school. People are always saying the US economy is going to collapse and we have to step back and really evaluate the realities of that statement. The 70's were pretty bad too but I read that attorney's actually faired pretty well during that era. At least big law attorneys, the firms were able to increase their rates under the guise that they were trying to keep up with inflation.

Thoughts ?
Did you know anyone that worked big law or do you work big law yourself? How competitive is it to keep those jobs long term? I know they accept a few tier 2 law school students but when you look at the senior level associates and partners they all come from pretty prestigious law schools. I've managed to save up close to a 100k from working a few years and attending law school will effectively wipe out my career savings. So I have to be very prudent with my decision, as should everyone but it's easy for people to attend school when they qualify and use government loans..
 
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