Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has actually cautioned that more bearish market are coming and the next one will be “the worst” in his lifetime. Noting that numerous stocks will decrease 90%, he worried that financiers will lose a great deal of cash.
Jim Rogers Says ‘the Worst’ Bear Market in His Lifetime Is Coming Next
Famed investor Jim Rogers cautioned about an incoming bearish market that will be “the worst” in his lifetime in an interview with Kitco News, released recently. Rogers is George Soros’ previous service partner who co-founded the Quantum Fund and Soros Fund Management.
Citing that we are rather in a bearish market today, he forecasted that the worst has yet to come, cautioning:
More bearish market are coming … The next one is going to be the worst in my lifetime.
While discussing that in 2008, “we had an issue with excessive financial obligation,” he worried that the financial obligation has actually escalated ever since.
“The financial obligation, oh my God, keep an eye out the window, the financial obligation has actually escalated all over, so the next bearish market needs to be terrible,” he suggested. “How can it not be an awful bearish market … I imply, the U.S. has actually increased its financial obligation by a number of times given that 2009. Japan, oh my God, they can’t even count the financial obligation in Japan. In numerous nations in the world, the financial obligation simply goes greater and greater and greater … 2008 was due to the fact that of excessive financial obligation, it’s much even worse now.”
Rogers elaborated:
Many stocks are going to decrease 70%, 80%, 90%. Of course, that’s going to occur. I simply wear’t understand when.
“It’s been 13 years given that we’ve had huge issues which’s the longest in American history,” he kept in mind, including that “it’s currently past due on a historical basis.”
He even more detailed: “We have really high appraisals, we have shocking financial obligation, we have a great deal of brand-new financiers coming in. It’s not my very first rodeo. I’ve seen this motion picture. I understand how it works. They’re all going to lose a great deal of cash. I hope I’m not one of them.”
Jim Rogers on the U.S. Dollar Losing Its Dominance
Rogers also repeated his view that the U.S. dollar will lose its supremacy, mentioning that “The Russia-Ukraine war has actually accelerated it.”
The experienced investor explained: “The world’s global cash is expected to be neutral — any person can do anything with it they wish to. But, sadly, Washington is altering those guidelines. Washington states well if they wear’t like you, you cannot utilize the U.S. dollar, and individuals state ‘wait a minute a worldwide cash is expected to be neutral. That’s not the method it’s expected to work.’”
He asserted that the U.S. federal government has actually revealed that it will “take your cash far from you” if it does not like you. “Many individuals have actually had their properties taken by the U.S. due to the fact that they wear’t like them,” Rogers stressed, elaborating:
Many nations, even our allies, are now trying to find something to contend [with the U.S. dollar] due to the fact that it might occur to them, you understand, suddenly Washington might state you are ended up.
Rogers also talked about bitcoin, verifying that he has actually not purchased any BTC. He repeated his view that if the cryptocurrency is successful as a currency, federal governments will ban it due to the fact that they do not like competitors.
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