Jim Rogers predicts worst collapse in our lifetime soon

[Lou Newton]

Jim Rogers has been a very good predictor of the stock market. Read what he says will take place this year or next. It is hard o argue to with reasoning.

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6

Legendary investor Jim Rogers sat down with Business Insider CEO Henry Blodget on this week's episode of The Bottom Line. Rogers predicts a market crash in the next few years. One that he says will rival anything he has seen in his lifetime. Following is a transcript of the video.

Blodget: One of the things I’ve always admired about you as an investor is that you don’t talk about what should be. You figure out what is going to be and then, you do that. So what is going to be with respect to the stock market? What’s going to happen?

Rogers: I learned very early in my investing careers: I better not invest in what I want. I better invest in what’s happening in the world. Otherwise, I’ll be broke. Dead broke.Well, what’s going to happen is it’s going to continue. Some stocks in America are turning into a bubble. The bubble’s gonna come. Then it’s gonna collapse and you should be very worried. But Henry, this is good for you. Because someone has to report it. So you have job security. You’re a lucky soul.

Blodget: Well, yeah, TV ratings do seem to go up during crashes but then they completely disappear when everyone is obliterated, so no one is hoping for that. So when is this going to happen?

Rogers: Later this year or next.

Blodget: Later this year or next?

Rogers: Yeah, yeah, yeah. Write it down.

Blodget: And what will trigger it?

Rogers: Well, it’s interesting because these things always start where we’re not looking. In 2007, Iceland went broke. People said, ‘Iceland? Is that a country? They have a market?’ And then Ireland went broke. And then Bear Stearns went broke. And Lehman Brothers went broke. They spiral like that. Always happens where we’re not looking. I don’t know. It could be an American pension plan that goes broke and many of them are broke, as you know. It could be some country we’re not watching. It could be all sorts of things. It could be war. Unlikely to be war but it’s going to be something. When you’re watching Business Insider and you see, ‘That’s so interesting. I didn’t know that company could go broke.’ It goes broke. Send me an email and then I’ll start watching.

Blodget: And how big a crash could we be looking at?

Rogers: It’s going to be the worst in your lifetime.

Blodget: I’ve had some pretty big ones in my lifetime.

Rogers: It’s going to be the biggest in my lifetime and I’m older than you. No, it’s going to be serious stuff. We’ve had financial problems in America -- let’s use America -- every four to seven years, since the beginning of the republic. Well, it’s been over eight since the last one. This is the longest or second longest in recorded history, so it’s coming. And the next time it comes -- you know, in 2008, we had a problem because of debt. Henry, the debt now -- that debt is nothing compared to what’s happening now. In 2008, the Chinese had a lot of money saved for a rainy day. It started raining. They started spending the money. Now, even the Chinese have debt and the debt is much higher. The federal reserves, the central bank in America, the balance sheet is up over five times, since 2008. It’s going to be the worst in your lifetime, my lifetime too. Be worried.

Blodget: I am worried.

Rogers: Good. Good.

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. Iceland failed last time. Other countries fail. You’re going to see more of that. You’re going to see parties disappear. You’re going to see institutions that have been around for a long time -- Lehman Brothers had been around over 150 years. Gone. Not even a memory for most people. You’re going to see a lot more of that next around, whether it’s museums or hospitals or universities or financial firms.

[redsoxmaloney]

Jim Rogers has been a very good predictor of the stock market. Read what he says will take place this year or next. It is hard o argue to with reasoning.

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6

Legendary investor Jim Rogers sat down with Business Insider CEO Henry Blodget on this week's episode of The Bottom Line. Rogers predicts a market crash in the next few years. One that he says will rival anything he has seen in his lifetime. Following is a transcript of the video.

Blodget: One of the things I’ve always admired about you as an investor is that you don’t talk about what should be. You figure out what is going to be and then, you do that. So what is going to be with respect to the stock market? What’s going to happen?

Rogers: I learned very early in my investing careers: I better not invest in what I want. I better invest in what’s happening in the world. Otherwise, I’ll be broke. Dead broke.Well, what’s going to happen is it’s going to continue. Some stocks in America are turning into a bubble. The bubble’s gonna come. Then it’s gonna collapse and you should be very worried. But Henry, this is good for you. Because someone has to report it. So you have job security. You’re a lucky soul.

Blodget: Well, yeah, TV ratings do seem to go up during crashes but then they completely disappear when everyone is obliterated, so no one is hoping for that. So when is this going to happen?

Rogers: Later this year or next.

Blodget: Later this year or next?

Rogers: Yeah, yeah, yeah. Write it down.

Blodget: And what will trigger it?

Rogers: Well, it’s interesting because these things always start where we’re not looking. In 2007, Iceland went broke. People said, ‘Iceland? Is that a country? They have a market?’ And then Ireland went broke. And then Bear Stearns went broke. And Lehman Brothers went broke. They spiral like that. Always happens where we’re not looking. I don’t know. It could be an American pension plan that goes broke and many of them are broke, as you know. It could be some country we’re not watching. It could be all sorts of things. It could be war. Unlikely to be war but it’s going to be something. When you’re watching Business Insider and you see, ‘That’s so interesting. I didn’t know that company could go broke.’ It goes broke. Send me an email and then I’ll start watching.

Blodget: And how big a crash could we be looking at?

Rogers: It’s going to be the worst in your lifetime.

Blodget: I’ve had some pretty big ones in my lifetime.

Rogers: It’s going to be the biggest in my lifetime and I’m older than you. No, it’s going to be serious stuff. We’ve had financial problems in America -- let’s use America -- every four to seven years, since the beginning of the republic. Well, it’s been over eight since the last one. This is the longest or second longest in recorded history, so it’s coming. And the next time it comes -- you know, in 2008, we had a problem because of debt. Henry, the debt now -- that debt is nothing compared to what’s happening now. In 2008, the Chinese had a lot of money saved for a rainy day. It started raining. They started spending the money. Now, even the Chinese have debt and the debt is much higher. The federal reserves, the central bank in America, the balance sheet is up over five times, since 2008. It’s going to be the worst in your lifetime, my lifetime too. Be worried.

Blodget: I am worried.

Rogers: Good. Good.

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. Iceland failed last time. Other countries fail. You’re going to see more of that. You’re going to see parties disappear. You’re going to see institutions that have been around for a long time -- Lehman Brothers had been around over 150 years. Gone. Not even a memory for most people. You’re going to see a lot more of that next around, whether it’s museums or hospitals or universities or financial firms.

Damn scary. What would be a good idea or ideas to help prepare?

[Lou Newton]

Damn scary. What would be a good idea or ideas to help prepare?

Thanks for the reply Tom. Well the good news is that Rogers was born in 1942 so his prediction does not include the crash of 1929. That one was really bad and the only thing that brought the US out of that was WW2, and WW2 was not good for anyone. The bad news is Rogers has been very good at predicting these events.

I would say save cash, gold, silver, firearms and ammo, and put yourself in a position where your living expenses are at a minimum. Do not buy unnecessary items, but instead put that toward savings. You will be filled with regret if you do not save, and you will be very thankful if you do.

What are the thoughts of others out there to answer Tom's question ?

[Steve Hollander]

Doesn't take a genius to see where we are headed. Turn your back on God and the results are the same.

[Lou Newton]

Doesn't take a genius to see where we are headed. Turn your back on God and the results are the same.

How true Steve. When you have people buying stocks because the price of the stocks are going up, instead of making money off of the dividends, then there is going to eventually be a collapse.

[Steve Hollander]

How true Steve. When you have people buying stocks because the price of the stocks are going up, instead of making money off of the dividends, then there is going to eventually be a collapse.

It's amazing how everyone ignores the 20+ trillion of debt we are aware of. It's probably much higher than that. Someday it has to be reckoned with.

[Lou Newton]

It's amazing how everyone ignores the 20+ trillion of debt we are aware of. It's probably much higher than that. Someday it has to be reckoned with.

Hi Steve, it is much much higher if all the liabilities of the federal government are included. The liabiilities of the states would make this much much higher:

JAN 17, 2014 @ 07:00 AM 84,639 The Little Black Book of Billionaire Secrets

You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion

Capital Flows ,

CONTRIBUTOR

Guest commentary curated by Forbes Opinion. Avik Roy, Opinion Editor.

Opinions expressed by Forbes Contributors are their own.


Estimated Funding Gaps in Medicare and Social Security (Photo credit: Wikipedia)

By Vance Ginn

Although the battle over a two-year budget deal and the national debt limit in Washington, D.C. has received the lion’s share of media attention recently , the bigger, more ominous threat facing taxpayers are unfunded liabilities—the difference between the net present value of expected future government spending and the net present value of projected future tax revenue, particularly those associated with Social Security and Medicare.

NOTE: that is over $400,000 for every man, woman and child in the US. How can this every be paid ? We must remember that some people earn NOTHING but instead add more to the dept every month by collecting instead of paying in.

For our nation to be paying foreign citizens welfare is just plain criminal. I see Muslims driving $70,000 cars and then use an EBT card for their food.

That means every wage earner owes over $2,000,000. This is simply insane.

[Steve Hollander]

Hi Steve, it is much much higher if all the liabilities of the federal government are included. The liabiilities of the states would make this much much higher:


NOTE: that is over $400,000 for every man, woman and child in the US. How can this every be paid ? We must remember that some people earn NOTHING but instead add more to the dept every month by collecting instead of paying in.

For our nation to be paying foreign citizens welfare is just plain criminal. I see Muslims driving $70,000 cars and then use an EBT card for their food.

That means every wage earner owes over $2,000,000. This is simply insane.

So then it is quite obvious that our current lifestyle is totally unsustainable. Which plainly means it is coming to an abrupt end.

While some of us do not live according to the ways of our fellow Americans and the rest of society, we are still witnesses of the deplorable lifestyle choices most of us make and the very fact that those we have in charge of things encourage us to delve deeper into debt and to give ourselves what we want and not to worry about tomorrow. As if tomorrow will never come.

Any one sensible and whom takes a moment to ponder the circumstances can see how bleak our future is. There is no way the pension system will sustain itself for all the retirees relying on it for the future. Many will need to return to work to live in a time when work is scarce and they are unable to command the income of their past.

Our lifestyle of ease and comfort is going to disappear before our very eyes overnight. Many will be delusional and expect someone to claim responsibility and when nobody does they will look for a scape goat to blame. There will be much blood in the streets.

Hopefully, we as His children have heeded His warnings of the past several years and gotten out of debt to the best of our abilities and resisted the temptation to go deeper into the system to have the things they want.

We must learn to do without. Not always but at times. We must learn to be content with what we have and where we are. This is not the payoff. There is a future far better than this one if we are willing to wait for the Lord to fulfill all His promises. He is reliable and we can count on Him totally. In fact it is pleasing to Him for us to count on Him. His arms are strong enough to support us all.

I am no different than my neighbors. I want a new truck, and a new LED TV, and a new whatever, but I am willing to do without it if it is not in His plans for me. People are much more important than money or things, but we are taught to believe the opposite today.

Thanks for the thread Lou. Blessings ..... Steve

[Lou Newton]

So then it is quite obvious that our current lifestyle is totally unsustainable. Which plainly means it is coming to an abrupt end.

While some of us do not live according to the ways of our fellow Americans and the rest of society, we are still witnesses of the deplorable lifestyle choices most of us make and the very fact that those we have in charge of things encourage us to delve deeper into debt and to give ourselves what we want and not to worry about tomorrow. As if tomorrow will never come.

Any one sensible and whom takes a moment to ponder the circumstances can see how bleak our future is. There is no way the pension system will sustain itself for all the retirees relying on it for the future. Many will need to return to work to live in a time when work is scarce and they are unable to command the income of their past.

Our lifestyle of ease and comfort is going to disappear before our very eyes overnight. Many will be delusional and expect someone to claim responsibility and when nobody does they will look for a scape goat to blame. There will be much blood in the streets.

Hopefully, we as His children have heeded His warnings of the past several years and gotten out of debt to the best of our abilities and resisted the temptation to go deeper into the system to have the things they want.

We must learn to do without. Not always but at times. We must learn to be content with what we have and where we are. This is not the payoff. There is a future far better than this one if we are willing to wait for the Lord to fulfill all His promises. He is reliable and we can count on Him totally. In fact it is pleasing to Him for us to count on Him. His arms are strong enough to support us all.

I am no different than my neighbors. I want a new truck, and a new LED TV, and a new whatever, but I am willing to do without it if it is not in His plans for me. People are much more important than money or things, but we are taught to believe the opposite today.

Thanks for the thread Lou. Blessings ..... Steve

How true Steve, thanks for the reply.

The Lord gives us grace if we confess we need grace. When my first wife left, I was a TV addict and let it play all night while I slept. Then I started reading The Holy Scriptures and months later realized the TV had not been on in months. The TV I have now has not been on since the Indy 500. I have only bought three TV's in my life. I spent $152, $89 and then $10 at a garage sale for one.

My car is 17 years old and I paid $2600 for it three years ago. I am sure I owe debts of all kinds that I will never be able to repay. But I have no outstanding loans to make payments on.

The people that have large payments to make every month could be in trouble if the economy takes a dive soon.