Quantum Fund co-founder, author, and regular lecturer of finance at the Columbia University Graduate School of Business Jim Rogers’ vision of the U.S.’ financial future is neither rosy nor does he think Gov. Mitt Romney or President Barack Obama can do anything about it.
“If you’re Mr. Romney’s friends, you’re going to do well after 2012. If you’re Mr. Obama’s friends, you’re going to do well. But you and I? The people watching this show? No!” the free market advocate said during a Tuesday interview on CNBC.
“Debt’s going higher, taxes are going higher. This is not going to be fun unless you’re Mr. Obama’s friends or Mr. Romney’s friends,” he added.
CNBC journalist Maria Bartiromo (yes, that Maria Bartiromo) pushed Rogers for further details.
“When I look ahead, I don’t see good things out there. All I see is money sloshing around and it’s coming here, coming to the New York Stock Exchange,” Rogers said.
“Are you expecting a sizable decline? I mean, you’re short some U.S. stocks, so how significant might a decline be in your view?” she asked.
“I would expect that we would see serious problems by 2014,” he responded, “you should be worried. I’m worried. You should be worried, too.”
“What am I worried about?”
“You should be worried that all of this money printing is going to come to an end. All this government spending,” he added.
Well, if nothing else, at least Rogers has company. Indeed, after his comments this morning, we think it’s fair to say he just qualified for membership in the Patrick Byrne “I Don’t Have a Good Feeling About this Election” club.
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