Jim Rogers is bracing for the biggest market downturn in eight decades.
The 80-year-old investor issued the grave warning during a recent RealVision interview. He also cautioned the US dollar’s global dominance is under threat, and higher interest rates will be necessary to rein in soaring prices.
The cofounder of George Soros’ Quantum Fund also slammed US lawmakers for the current debt-ceiling debacle, touted commodities as the best hedges against inflation, and dismissed the idea that governments will embrace bitcoin.
Here are Rogers’ 7 best quotes, lightly edited for length and clarity:
1. “The next bear market will be the worst in my lifetime, because the debt has gone up by such staggering amounts in the past 14 years.” (Rogers said the 2008 crash was caused by excessive amounts of debt, and borrowing has ballooned since then, suggesting a far worse downturn lies ahead.)
2. “We should always be concerned about Washington. They don’t have a clue what they’re doing. And they prove it day in and day out.” (He was discussing the current political gridlock over raising the debt ceiling.)
3. “You should be extremely worried. If you’re not, you don’t know what’s going on. Many countries are starting to look for alternatives to the US dollar, partly because of its horrendous debt problem. I’m looking every day, because I know that something bad is going to happen in the currency markets in the next two or three years.” (Rogers was commenting on de-dollarization fears.)
4. “Interest rates are going to go higher worldwide. I don’t know how high they have to go to kill inflation this time around. The world has never seen the debt and the spending and the money printing like in the last few years. So something is going to have to be very, very ruinous to solve this problem this time.”
5. “There’ll be trouble in all the markets — property markets, stock markets, bond markets, currency markets, everything. You have to learn about cash or selling short in order to survive what’s coming.”
6. “I don’t think that the world is going to convert to bitcoin. It will be computer money, but it will be government computer money.”
7. “The best place to be when you have inflation is real assets, and real assets are commodities. The cheapest asset that I know is still commodities.” (Rogers said he owns some silver and gold currently.)
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Eh……,while I peruse the net have electrolysis working on rusty/need to be repainted car parts.
I will not worry about “bear markets”,that said,do love bears!
A bear on cocaine…
This is just an advertisement for real vision fuck off
Not saying he’s wrong, but he is a permabear, isn’t he?
I’ve been hearing pretty much the same tune from Rogers for at least thirty years. There is likely an almost word for word analysis and recommendation to buy commodities article about Rogers every year for decades archived.
How did he get so rich?
He was partners with George Soros. They had a hedge fund called the Quantum Fund in the 1970s that made them both billionaires. Rogers did the ‘research’ and then Soros made the trades.
Soros has used his billions to destroy the United States, while Rogers used his billions to go around the world (twice) and then run away to Singapore like a pansy.
To his credit, Rogers did manage to take his young-enough-to-be-his-daughter girlfriend (wife?) on a round-the-world motorcycle tour.
That may not be much, but it’s gotta qualify as ‘something’.
Yes. His stuff gets really popular when people are nervous. Him & Schiff. Not saying they are wrong or right.
Another fearmongering cunt who says the sky is falling to scare people into selling short so he and Lord Eyebags can swoop in and buy it up on the cheap.
Yep. These scum made their billions on others destructions. They are lower than parasites.
OK I’ll say the unspoken part for ya…
Soros top loaded ALL our institutions with his own personal flying monkeys.
Now that they’ve proven themselves “incompetent” he’s “calling them out”?
This was the plan from the very beginning. Did we learn NOTHING from what he did to The Bank of England and the pound Sterling?
USURPATION !!!
An ever-increasing % of the US population is borderline retarded (if not fully retarded), illiterate, can’t do basic math, chain smokes copious amounts of very strong marijuana, plays video games nonstop, etc.
Did you have any expectation that these imbeciles would know what Lord Eyebags did to The Bank of England and the Pound Sterling? Or even who he is?
Like, wow man! Everybody knows math is like the Patriarchy, man. And like what did this Silver guy do to justify them pounding him at an English bank, man. Fascists man, all fascists, like where’s my lighter man? Time for a bowl of my medicine man!
Like wow, that’s some good shit.
If one has read The Creature and not learned…
Don’t have to read 5000 books to get it.
There is a literal shit ton of truth in “The Creature From Jekyll Island.” I have mentioned before that I have a 1994 edition and reading it after 2008 I was floored over the part where Griffin said years before that they were plotting a subprime credit crisis to give us a major hosing, which they did.
War is gonna fix these little “market” problems
Lost me here: “The cofounder of George Soros’ Quantum Fund”…WTF. It’s all done with mirrors, folks.
FWIW, Rogers claims he’s not spoken to Soros in 30-40 years.
They had a falling out in the late 1970s when the Quantum Fund was investigated by the SEC for selling stocks short, and then covering the short sales by buying shares back at a lower price. In essence, Soros was engaging in the manipulation of the stock’s price. The SEC offered Soros the opportunity to sign a consent decree in which he and the Quantum Fund admitted no wrongdoing but promised not to do it again. When Rogers asked Soros why he signed it if he did nothing wrong, Soros answered “Because that is what I was doing.”
That’s why Rogers ‘retired’ in 1980. I don’t thing he has spoken to Soros since then.
Is this guy still alive? No disrespect, if he were not I’d say RIP. Never disrespect the dead. Talk about them but follow up with RIP.
Jim Rogers cut and run instead of staying in the U.S. and opposing his old partner Soros.
A pox on him.
I wish I had a fraction on his money and insight…as it is, I believe we’re fucked.