Global Economy: Jim Rogers Has Dire Warning for Investors
Jim Rogers: Everyone Will Suffer
Jim Rogers, the legendary billionaire investor and chairman of Rogers Holdings, says the global economy is about to get pounded into a recession and, as usual, the average person will be the one who suffers.
“We’re all going to suffer,” Rogers said in an interview with CrushtheStreet.com. “I can think of very few places that won’t suffer. But most people are going to suffer the next time around.” (Source “‘The Market Knows It’s Over’ Jim Rogers Warns ‘We’re All Going To Suffer’,” CrushtheStreet.com, February 8, 2016.)
With numerous signs of a slowing global economy, Rogers says that central banks will go into a panic to try to save the economy from entering a deep recession. Rogers added that banks will again use the same tools, but it will have no effect as investors around the world have caught on that “the jig is up.”
“I don’t know if they’ll even call it QE (quantitative easing) in the future,” Rogers said. “Who knows what they’ll call it to disguise it. They’re going to try whatever they can. Printing more money or lowering interest rates or buying more assets, but unfortunately, no matter how much P.R. or whitewashing they use, the market knows this is over and we’re not going to play this game anymore.” (Source: Ibid.)
Rogers also said that global markets will extend their losses, unemployment will increase, and that there will be “more losses to freedom as governments and central banks point the finger at everyone but themselves.” (Source: Ibid.)
Rogers gained notoriety in the 1970s—a decade marred by a recession as stocks stagnated and commodities crashed—when he partnered with George Soros to start up the Quantum Fund. The fund gained 4,200% in 10 years, compared to a gain of 47% for the S&P.