Get Ready for the Worst Bear Market of Our Lifetime: Investor Warns
Veteran investor Jim Rogers predicts the largest bear market in his lifetime.
Jim Rogers, a well-known American investor, predicts the biggest bear market of his lifetime. In a recent talk with Real Vision Finance, Rogers compares the current economy to the period before the 2008 Financial Crisis, but warns it could be much worse.
Rogers, who co-founded Soros Fund Management with famous investor George Soros, believes the huge debt in the system will cause a major bear market in risk assets.
"The next bear market will be the worst in my lifetime. The reason is the enormous increase in debt since 2008," says Rogers.
Recalling the serious inflation in 1980, Rogers believes a similar situation is developing in today's financial markets. All markets, including property, stocks, bonds, and currency, will face trouble. Back in 1980, government treasury bills had interest rates over 21% to control the situation.
The Federal Reserve Open Market Committee (FOMC) has decided not to raise interest rates for now, but they expect two more increases by the end of this year.
Reported by Coinpaprika
