Jim Rogers Reiterates His Call For A Crash Of Epic Proportions
Jim Rogers Reiterates His Call For A Crash Of Epic Proportions by Jeff Berwick
Last year we covered a number of big name investors’ warnings regarding the future of financial markets. Many had quite a stark view including George Soros’ Quantum Fund co-founder, Jim Rogers.This past May, Rogers had such a dismal outlook that he warned “A $68 trillion ‘Biblical’ collapse is poised to wipe out millions of Americans.”
Since then, the Dow has hit record highs above 20,000 and many other fragile bubbles continue to expand.
And just this week, Jim did a podcast interview with Erik Townsend and Patrick Ceresna on their show called “Macro Voices” in which he was questioned on a variety of topics. He didn’t contradict any of his previous statements, though he certainly had opportunities to do so.
Most notably, Rogers offered another warning statement; “Get prepared,” he went on “because we’re going to have the worst economic problems in your lifetime and a lot of people are going to disappear.”
Jim went on to reference the demise of both Bear Stearns and Lehman Brothers which were around for 90 years and over 150 years years respectively. Both despite surviving two World Wars, still disappeared overnight while days before, Jim Cramer, on CNBC, admonished that Bear Stearns was a buy at $62… six days later it was bought out by JP Morgan for $2 a share.
And Rogers thinks it’s possible that many companies and even countries may soon no longer exist, just as Bear Stearns and Lehman Brothers disappeared.
Trumps seems to have an inclination to start trade wars with China and Mexico among other countries. Members of Trumps cabinet also are willing to comply with Trump’s desire for war. A war would be a most destructive event at this point in time, but it is certainly a possibility as Rogers indicated.