Famed investor Jim Rogers is predicting a disastrous scenario for the global economy. “Eventually, the whole world is going to collapse,” he told CBC in a recent interview.
Rogers said “we in the West have staggering debts,” noting that the United States is the “largest debtor nation in the history of the world.”
“This is going to end badly,” he warned.
Zero Hedge breaks down Rodgers’ thoughts on the “commodity super-cycle” and increasing energy production through fracking:
However, the co-founder of Soros’ Quantum fund is convinced that the commodity super-cycle is far from over, but driven by supply constraints (and cost increases) as opposed to demand from higher growth. The following interview provides more color on his commodity view as he re-iterates his bullish stance on Ag (with sugar a focus) and Natural Gas (some harsh natural realities coming), warning “don’t get too excited about fracking,” when he talks energy products.
Rogers, in his inimitable way, sums up the state [of] euphoria that many markets find themselves in thus, “we are all floating around on a sea of artificial liquidity right now. This is not going to last.”
Rogers went on to warn of the “next crisis,” which he predicted may occur in 2015 or 2016.
“The next correction when it comes, because the debt is so very high — you know, 2008 was worse than 2002 because the debt was so much higher. You wait until 2015 or 2016 when the next crisis hits… debt has gone through the roof, the next one’s gonna be really bad”
His advice: “Be prepared, be worried, and be careful.”
Watch the interview via CBC below: