Billionaire investor Jim Rogers tells it like it is. If he says something is going to happen, I am listening! His ability to analyze investments and economic conditions have made him a very rich man over the decades. Today he is very concerned about the current state of the U.S. and global economies. This may be bad news for most people, but remember, there were more millionaires made during and coming out of the great depression than any other time in world history! If you get prepared now, you just might be able to position yourself to buy up assets for pennies on the dollar during the next financial crisis! Here is what Jim Rogers says about it…
“…We had a problem in 2008 because of too much debt, domestically and worldwide. Now the debt levels are staggering compared to 2008. Some countries have up to five times as much debt as they had eight years ago. And the dangers now are even larger than 2008.
If you look at the last few bubbles, the Federal Reserve at least had the ability to drop rates from 6% or 5% down to zero. Now it has virtually no room left to maneuver.
The Fed doesn’t know what it’s doing. This is all an experiment with them. They just decided to print more money, drive interest rates to zero, and see what happens. There are going to be profound consequences of this giant delusional experiment…”
“…I’m very worried because what we’re facing now can get worse than anything most of us have seen in our lifetimes. The world may be overdue for a crisis of that magnitude. Throughout history, we’ve had periods of severe crisis. I don’t mean 1968 or 2008, for instance. I mean a serious crisis with widespread bankruptcies, massive unemployment, the emergence of dictators, and war…”