Jim Rogers is a retired investor and co-founded Quantum Fund alongside billionaire George Soros. “We are probably going to have one last rally but that will be it,” he predicted. “Then we are coming to the end of the line. Be worried.”
Jim Rogers discusses the worst recession of his life
In an interview published Monday by Business Today, Jim Rogers, a well-known investor shared his views on the U.S. Economy. Rogers is George Soros’ former business partner who co-founded the Quantum Fund and Soros Fund Management.
He was asked if right now is “the beginning of an impending recession, the worst ever like it’s been predicted by some.” Rogers replied:
Well, before this is over, yes, it’s going to be the worst in my lifetime.
“In 2008, we had a problem because of too much debt,” he explained. “But since 2009, the debt everywhere, everywhere, has skyrocketed. So the next problem has to be the worst in my lifetime because the debt has gotten so, so, so much worse.”
However, he noted: “Having said that, there’s a huge amount of pessimism around right now, and normally when there’s a lot of pessimism, something happens and people get happy for a short time.”
While stating that he is not making a prediction, Rogers opined: “If there were peace in Ukraine, oh my gosh, the pessimism would disappear and stocks would go up.”
A well-known investor warns:
Something is going to happen. It is likely that we will have one more rally. But, that’s it. This is the final stretch. Be worried.
Regarding the stock market, he said: “There have been many times in history when stocks have done nothing for a long period of time or even declined for a long period of time … Stocks do not have to go up all the time. We have had many long bear markets, and we will, we are going to have another one now, soon.”
While emphasizing that “This year so far has been one of the worst” and bear markets “can be really, really devastating and surprising,” Rogers stressed:
Before it’s over, I expect [it] to get much, much, much worse … Some companies will go bankrupt.
Rogers predicted that July would be the worst bear market of his life. He also forecasted the death of the U.S. dollars.
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