“We haven’t had an economic slowdown for over 6 years in the world — we’re overdue... and the next time it comes it’s going to be a disaster because the debt is so much higher everywhere," he said.
"Eventually the market is going to raise interest rates and that’s when the disasters work… when the central banks have no more control. In 2008, the Chinese had a lot of money saved up so they can spend a lot of money to help save us. They’ve got debt too themselves now, the debt that’s gone up there is horrendous, that’s going to be a big problem next time.”
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
Good post. I hope it will not happen.
ReplyDeleteBGC
i like rogers, hes a "trader" not an economist. and that's good.
ReplyDeleteOne call he made was off recently.. he bought chinese shares as they were going up, he said he bought more in the midst of the bull a few months ago.. and he said it wasn't a bubble.... then it all crashed and burned... and he came out saying hes under water ont hose positions but yet he bought more.... The problem here is a good trader never dollar cost averages down. he should have been out clean.
still,despite this all he is the best trader commentator I know
his views are for very very long term and no use for traders. but i always visit this site and read his views
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