(Kitco News) – Jim Rogers, chairman of Rogers Holdings, says this is the longest period in American history without a recession, and all signs point to the worst crash of our lifetimes to come. .
“It was the longest [period] In the history of America, we’ve never had a recession,” Rogers told Kitco News lead anchor and editor-in-chief Michelle Makori. “It doesn’t mean there’s always going to be a recession, but there’s always a recession. And there are many signs that something is going to go wrong soon.”
Rogers is a best-selling author best known for co-founding the Quantum Fund and starting Soros Fund Management with George Soros, with an average annual return of 20% from 1970 to 2011. was.
Rogers said there are signs a bear market is coming. If that happens, Rogers pointed out, it would be the worst thing to happen in our lifetimes. prediction of his timeline Interview with Michel Makori.
“We had a big problem in 2008, and since then the debt of every country has skyrocketed. So the next recession has got to be the worst of my lifetime, because the current debt is Because it’s much bigger than it’s ever been in our lifetime. China has a lot of debt right now.”
The United States started 2024 with a national debt of over $34 trillion. A growing number of Wall Street experts are also highlighting this issue. JPMorgan Chase & Co. CEO Jamie Dimon recently warned that the U.S. economy is headed toward a financial crisis due to the rising national debt. Speaking at the Bipartisan Policy Center last week, Mr. Dimon predicted an impending “hockey stick” debt surge and said the crisis could be a decade away. “It’s a cliff, we’re looking at a cliff. About 10 years left, we’re going 90 miles an hour [toward it],” He said.
But Rodgers’ timeline is much more immediate, as he sees the worst crash of his life coming much sooner. Watch the video above To get Rogers’ timeline of when this crash will occur.
Things may get complicated considering this is an election year, but there will come a point when things get out of control, Rogers added. “I’m afraid of seeing the signs.”
How to prepare for the coming crisis
Aside from increasing your individual gold and silver stash, there are some specific assets that Rogers suggests you should focus on in this environment.
Mr. Rogers believes there is a potential opportunity to short the 7 Magnificent Companies (Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla) and believes these stocks are overvalued. However, you have not yet decided when to execute the short sale transaction. “These are on my short list because they’re being abused and the valuations are so high,” he said, adding that he hasn’t shorted them yet.
Mr. Rogers also has a “large amount of cash” saved up, primarily in U.S. dollars, in search of opportunities. “The US dollar is no longer a sound currency. We are the largest debtor nation in the history of the world. But everyone thinks it is a sound currency, a safe currency. So when problems arise, , people rush to safe havens,” he clarified.
Other investments that Mr. Rogers is very interested in are the Chinese market and the agricultural sector. Find out what sectors he’s considering below. Watch the video above.
Are we on the brink of World War III?
Mr. Rogers admitted he was concerned about regional conflicts escalating into a major global war.
“We have small wars right now, but historically, small wars somehow turn into big wars. We think people will learn the lessons of history, but they you never learn,” he warned. “I don’t like visible signs. I’d like to think we’re smart enough to avoid war. But humanity has never been smart enough to avoid war.”
Asked if the world was on the verge of a global war, he said: “There are signs that we are heading in that direction.”
Mr Rogers ruled out an apocalyptic scenario, but warned that younger generations would have many problems. “I promise you 2025 is coming. But with all these problems that America is going to have in the future, it’s a good time to be an old American. I’m not going to be here. It’s 2025. “It’s not a good time to be a young American,” he said.
Rogers added that some will fare well in the coming decades, while others will suffer. Watch the video above See insights from legendary investors on how to succeed.
China to take back Taiwan
There are several triggers that could spark a broader conflict, including spillover from the Israel-Hamas war, an escalation in the ongoing war in Ukraine, and tensions between China and Taiwan.
Looking to the future, Mr. Rogers believes that Taiwan will become part of China. “I look at the globe and know that Taiwan will one day become part of China again. Will it be by war? I hope not. China knows that one day it will be part of China again. “So it seems prudent to just wait and I hope they just wait,” he said.
How this all plays out, and what other world developments Rogers is keeping an eye on. Watch the video above.
Mr. Rogers remains bullish on China’s economy, which faces many challenges, including weaker-than-expected growth, a real estate crisis, deflation, declining exports and high youth unemployment.
This week, a Hong Kong court ordered the liquidation of China Evergrande, the world’s most indebted property developer. The decision will impact China’s real estate sector, but the outcome will depend on mainland China’s reaction to the Hong Kong court’s decision.
Mr. Rogers emphasized that he is looking for opportunities in the Chinese market. To get his specific sector selection, Watch the video above.
Bitcoin’s existential threat
The legendary investor also considered the possibility of Bitcoin being banned by governments. He outlined under what scenarios that would be possible. Watch the video above For insight.
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