
Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, expects the bear market to get a lot worse, including that this recession would be the worst in his lifetime. “We’re in all probability going to have one final rally however that will probably be it,” he predicted. “Then we’re coming to the top of the road. Be fearful.”
Jim Rogers on the Worst Recession in His Lifetime
Famed investor Jim Rogers shared his view in regards to the U.S. economic system in an interview with Enterprise As we speak, revealed Monday. Rogers is George Soros’ former enterprise companion who co-founded the Quantum Fund and Soros Fund Administration.
He was requested if proper now could be “the start of an impending recession, the worst ever prefer it’s been predicted by some.” Rogers replied:
Nicely, earlier than that is over, sure, it’s going to be the worst in my lifetime.
“In 2008, we had an issue due to an excessive amount of debt,” he defined. “However since 2009, the debt all over the place, all over the place, has skyrocketed. So the following drawback must be the worst in my lifetime as a result of the debt has gotten so, so, a lot worse.”
Nevertheless, he famous: “Having stated that, there’s an enormous quantity of pessimism round proper now, and usually when there’s loads of pessimism, one thing occurs and other people get joyful for a short while.”
Whereas stating that he’s not making a prediction, Rogers opined: “If there have been peace in Ukraine, oh my gosh, the pessimism would disappear and shares would go up.”
The famend investor warned:
So, one thing might be going to occur. We’re in all probability going to have one final rally however that will probably be it. Then we’re coming to the top of the road. Be fearful.
Relating to the inventory market, he stated: “There have been many occasions in historical past when shares have achieved nothing for an extended time frame and even declined for an extended time frame … Shares would not have to go up on a regular basis. We’ve got had many lengthy bear markets, and we are going to, we’re going to have one other one now, quickly.”
Whereas emphasizing that “This yr to date has been one of many worst” and bear markets “might be actually, actually devastating and shocking,” Rogers confused:
Earlier than it’s over, I anticipate [it] to get a lot, a lot, a lot worse … Some corporations will go bankrupt.
In July, Rogers warned that the worst bear market in his lifetime is coming. He has additionally predicted the top of the U.S. greenback.
What do you consider the feedback by Jim Rogers? Tell us within the feedback part under.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It’s not a direct provide or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any injury or loss prompted or alleged to be brought on by or in reference to using or reliance on any content material, items or companies talked about on this article.