Jim Rogers spoke to CNBC on Tuesday about European earnings. Most notable from this conversation was when he called CNBC a PR house.

Rogers says to forget about Q2 2010, and that next year is what to worry about, when QE slips. He also notes that Australia needs to hold back on its mining tax.

3:00: "The European stress test was a total waste."

3:45: It is PR, they got the stocks up, that's the whole purpose of PR, make the stocks go higher. That's what CNBC and many many PR agencies are all about.

We wonder if it will be a few weeks before Jim Rogers is invited back.

From CNBC, via Econotwist: