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Billionaire investor George Soros and veteran investor Jim Rogers, who co-founded the Quantum Fund, say another bear market is coming and the next market will be the ‘worst’ of his lifetime. warned that it would. He stressed that many stocks will fall by 90% and investors will suffer heavy losses.
Renowned investor Jim Rogers warned of what would be the “worst” bear market of his lifetime in an interview with Kitco News published last week. Rogers co-founded Quantum Fund and Soros Fund Management. Former business partner of George Soros.
Citing the current somewhat bear market, he predicted that the worst was yet to come and warned:
Another bear market is coming…the next one will be the worst in my life.
While explaining that in 2008, “there was a problem with too much debt,” he stressed that the debt had skyrocketed since then.
Debt, oh my god, look out the window. Debt is skyrocketing everywhere, so the next bear market must be terrifying, he opined. “It’s not a terrible bear market… I mean, the US has multiplied its debt since 2009. Japan, my god, they can’t even count Japan’s debt. It’s going to increase In 2008 it was because we had too much debt, now it’s even worse.
Rogers elaborated:
Many stocks drop 70%, 80%, 90%. Of course it will. I don’t know when.
“It’s been 13 years since we had a big problem, which is the longest period in American history,” he said, adding, “Historically, it’s already expired. ‘ added.
He further elaborates: I have seen this movie. i know how it works. They all end up losing a lot of money. i hope i’m not one of them.
Rogers also USD loses dominance said that “the war between Russia and Ukraine has accelerated it.”
The veteran investor said: But, unfortunately, Washington is changing those rules. Washington often says that if they don’t like you, you can’t spend US dollars. That’s not how it should work.
He argued that it showed that the U.S. government would “take your money away” if it didn’t like you. emphasized and elaborated as follows:
Many countries, even allies, are looking for something to compete with [with the U.S. dollar] Because that could happen to them, you know, suddenly Washington could say you were done.
Rogers also commented on Bitcoin, confirming he didn’t buy anything Bitcoin He said that if cryptocurrency succeeds as a currency, the government outlaws Because they don’t like competition.
What do you think about Jim Rogers’ warning? Let us know in the comments section below.
image credit: Shutterstock, Pixabay, Wiki Commons
