Legendary investor Jim Rogers predicts a financial implosion bigger than any previous one in his lifetime.
Jim Rogers predicts what amounts to the end of the world as we know it. Rogers has been predicting this for a long time, but as he points out, the U.S. has experienced a recession every seven years on average. So it isn’t “fake news” to say that we’re due for another one now—eight years from the last one. And everyone outside of Wall Street and the government knows from personal experience that this “recovery” has been problematic. Everything that led to the financial crisis has gotten worse! So, the suggestion that the next recession will also be worse seems credible.
The interview was conducted by Business Insider CEO Henry Blodget at BusinessInsider.com:
Blodget: Can anybody rescue us?
Rogers: They will try. What’s going to happen is they’re going to raise interest rates some more. Then when things start going really bad, people are going to call and say, ‘You must save me. It’s Western civilization. It’s going to collapse.’ And the Fed, who is made up of bureaucrats and politicians, will say, ‘Well, we better do something.’ And they’ll try but it won’t work. It’ll cause some rallies but it won’t work this time.
Blodget: And we are in a situation where Western civilization already seems to be possibly collapsing, even with the market going up all the time. Often when you do have a financial calamity, you get huge turmoil in the political system. What happens politically if that happens?
Rogers: Well, that’s why I moved to Asia. My children speak Mandarin because of what’s coming. You’re going to see governments fail. You’re going to see countries fail, this time around.
Here’s the complete interview (beginning about seven and a half minutes in the video):
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