Investor Jim Rogers, the founder of Quantum Fund alongside Geroge Soros, warns that the worst bear market is coming. It is the worst in the context of what he has seen in his lifetime, and considering his experience, it must be a lot. Rogers also said that some stocks might fall as much as 90%, and investors will bleed money. All in all, brace yourself for what will follow isn’t going to be easy to handle.
Jim Rogers talks about the worst bear market
Rogers was recently interviewed by Kitco news, where he said that the worst bear market of his life is coming. He said that we are already in a bear market, but the worse is yet to come. Roger also talked about the 2008 crash, where there was too much debt. But the debt problem hasn’t subsided since then. Debt has skyrocketed, so this recession won’t be a pretty picture.
Roger pointed out that in the US, Japan, and many other countries, the mountain of debt has only grown larger. When there is too much debt and the bear markets hit, it becomes a blood bath. So, even in the recession, that’s expected now, things will become pretty bad.
Jim also thinks that this bear market has been overdue now as it’s already 13 years. There are many stocks that are going to crash by 70-90%, and the real valuations of companies will surface. Companies with high debt and low profits will be the biggest problem.
USD is already on the way to losing its dominance
Jim also believes that the dollar will lose its dominance and the Russia-Ukraine war and speed things up. An international payment medium needs to be neutral, but the US is showing how controlling they are. This has created a divide, and countries are already looking at other payment mediums for transactions. As soon as the US got a problem with Russia, their entire funds were frozen. This goes to show the need for a better alternative for international trade.
Unlike many others, Rogers doesn’t think BTC will survive as governments will ban it if it really becomes a threat.
What are your thoughts as Jim Rogers warns that the worst bear market is coming? Let us know in the comments below. And, if you found our content informative, do like and share with your friends.
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