Renowned Investor Jim Rogers Warns of Impending Global Economic Crisis, Foresees Biggest Bear Market Ever
Renowned Investor Jim Rogers Sounds Alarm: Biggest Bear Market in His Lifetime Looms Ahead.
In a compelling interview with Real Vision Finance, veteran American investor Jim Rogers shares his concerns about the impending global economic crisis. Drawing parallels to the conditions preceding the Great Financial Crisis of 2008, Rogers warns that the current setup is far more precarious.
As an esteemed figure closely associated with prolific investor George Soros and a co-founder of Soros Fund Management, Rogers highlights the alarming levels of debt accumulated within the system, which he believes will inevitably trigger a severe bear market in risk assets.
Reflecting on the 2008 financial crisis resulting from excessive debt, Rogers emphasizes the exponential surge in debt observed worldwide since then. He asserts, “I know we’re going to have the largest bear market, the biggest bear market in my lifetime. Because the debt has gone up by such staggering amounts in the past 14 years.”
Rogers draws parallels to the great inflationary crisis of 1980, recalling the monumental interest rates and treasury yields employed to curb inflation during that era. He warns that a similar scenario is now unfolding in financial markets, portending trouble across various sectors, including property markets, stock markets, bond markets, and currency markets.
Recounting the severity of the situation in 1980, Rogers explains how short-term government treasury bills carried interest rates exceeding 21%, emphasizing the desperate measures taken to regain control over inflation. While acknowledging the effectiveness of those measures, he highlights the adverse consequences faced by many during that period.
The recent decision of the Federal Reserve Open Market Committee (FOMC) to temporarily halt interest rate hikes, with two more anticipated by year-end, adds another dimension to the unfolding economic landscape.
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