Biggest market crash in my lifetime coming: Jim Rogers


MONEY. PROFITS IN THE MACAU BUSINESS FALLING SHORT STOCK DOWN 4% AS WE SPEAK.>>>I WANT TO BRING IN JIM ROGERS. HE IS THE CHAIRMAN OF ROGERS HOLDING>>BUT PROBABLY COMING, BEGINNING LATER, CRASHES DON’T HAPPEN IN ONE DAY. MARKET WILL GO UP FOR A WHILE. I’M OPTIMISTIC ABOUT THE U.S. STOCK MARKET AND ASIAN STOCK MARKET. IT WILL GO UP, SOMETIME LATER THIS YEAR OR NEXT THE DECLINE WILL START IN. IT DOESN’T HAPPEN IN A DAY. STUART, WHEN I SAID IT WILL BE THE BIGGEST MARKET DOWNTURN IN MY LIFETIME, THAT IS NOT SO STRANGE TO ME. 2018 WE HAD A PROBLEM — 2008 WE HAD A PROBLEM BECAUSE OF TOO MUCH DEBT. STUART, THE DEBT HAS SKYROCKETED SINCE 2008. SAYING IT WILL BE WORSE IN MY LIFETIME, HOW WOULD IT NOT BE? STUART: YOU’RE A DEBT BOMB GUY? THE CRASH IS COMING, HUGE SELLOFF IS COMING BECAUSE OF DEBT. YOU SAY, I ASKED YOU WHEN, YOU KIND OF HEDGED A LITTLE. MAYBE LATE THIS YEAR, EARLY NEXT YEAR. AND THEN I ASKED WHY, YOU SAY IT IS THE DEBT BOMB. THAT IS YOUR SCENARIO HERE?>>YES. STUART, DO YOU REMEMBER 2008 AND 2009? THAT WAS BECAUSE OF GIGANTIC DEBT. IT IS GETTING WORSE. IT IS MUCH WORSE NOW. THE FEDERAL RESERVE ALONE’S BALANCE SHEET IS UP 500% SINCE THEN. BY THE WAY, JANET YELLEN SAYS WE’RE NEVER GOING TO HAVE ANOTHER BEAR MARKET IN OUR LIFETIME. SO, MAYBE YOU SHOULDN’T LISTEN TO ME. STUART: ALL RIGHT. I’M LISTENING, AND I UNDERSTAND THAT YOU’RE IN MIAMI FOR A BLOCKCHAIN AND A CYBERSECURITY CONFERENCE. OKAY, JUST STRIP OUT ALL OF THAT FOR A SECOND. WHAT DO YOU THINK OF CRYPTOCURRENCIES? ARE YOU INVESTING?>>WELL, I HAVE NEVER BOUGHT A CRYPTOCURRENCY. THIS BLOCKCHAIN CONFERENCE, BUT OF COURSE THAT INCLUDES CRYPTOCURRENCIES. THEIR THEORY, IF THEY EDUCATE PEOPLE, THEY HAVE AMAZING SPEAKERS, THAT EVERYTHING WILL BE UNDERSTANDABLE AT LEAST. I HAVE NEVER BOUGHT A CYBER CURRENCY. BLOCKCHAIN IS CERTAINLY GOING TO BE A GREAT CHANGE FOR ALL OF US. IT WILL CHANGE THE WORLD AS WE KNOW IT. I’M NOT SO SURE ABOUT CRYPTOCURRENCIES. STUART: BLOCKCHAIN THOUGH, IN WHAT WAY DOES IT CHANGE THE WORLD AS WE KNOW IT? WHAT IS THE GREAT OPPORTUNITY HERE IN BLOCKCHAIN?>>I WISH I COULD FIGURE THAT OUT. I HOPE I WILL LEARN AT THIS CONFERENCE BECAUSE I HAVEN’T FOUND A BLOCKCHAIN INVESTMENT YET. BUT, STUART, IN CHINA, FOR INSTANCE, THEY DON’T HAVE MONEY. I TRIED TO BUY AN ICE CREAM CONE OTHER DAY. POOR WOMAN COULDN’T SELL IT BECAUSE I HAD MONEY. I DIDN’T HAVE ON MY PHONE TO PAY FOR IT. SHE GAVE ME AN ICE CREAM. I WISH I WAS BUYING A MERCEDES. STUART: YOU THINK BLOCKCHAIN SOLVES THIS PROBLEM? BLOCKCHAIN, DOES WHAT? TELL ME WHAT IT DOES FOR ME.>>WELL, FOR ONE THING INSTANTLY PAYS EVERYTHING. INSTEAD OF, IF YOU AND I GET A BILL. WE SEND A CHECK IN, IT IS PROCESSED. HAS TO GO THROUGH THE VARIOUS DEPARTMENTS TO THE BANK. THE BANK HAS TO PAY. IT IS ALL DONE AUTOMATICALLY. THIS IS A MIRACLE FOR SOMEBODY LIKE ME WHO BARELY UNDERSTANDS COMPUTERS. IT IS ALL DONE INSTANTLY WITH A LOT LESS PAPERWORK, A LOT LESS PROCESSING. STUART: JIM ROGERS, HAS NOT YET DECIDED HOW TO GET INTO THE BLOCKCHAIN TECHNOLOGY?>>STUART, IF I FIND OUT AT THE CONFERENCE TODAY AND TOMORROW I WILL LET YOU KNOW. STUART: WHAT IS YOUR MAJOR INVESTMENT RIGHT NOW? WHAT IS IT? IS IT IN A STOCK? IS IT IN A BOND OR WHAT IS IT?>>I OWN A LOT OF U.S. DOLLARS BECAUSE THE U.S. DOLLAR IS DOWN. IT WILL GO HIGHER. I GUESS I OWN A LOT OF CHINESE SHARES, RUSSIAN SHARES, JAPANESE SHARES. ASIA, I’M MORE INTERESTED IN ASIA. THE JAPANESE STOCK MARKET IS DOWN 50%. U.S. STOCK MARKET IS NEAR ALL-TIME HIGHS. I KNOW YOU BUY LOW AND SELL HIGH, STUART. I HAVE KNOWN YOU A LONG TIME. STUART: DISHING OUT THE COMPLIMENTS THIS MORNING. THAT’S REAL GOOD, JAMES.>>ALL I SAID WAS I’VE KNOWN YOU A LONG TIME. I DON’T KNOW IF THAT IS A COMPLIMENT OR AN INSULT. STUART: YOU LIVE IN SINGAPORE NOW ADAYS?>>I DO LIVE IN SINGAPORE BUT I’M IN MIAMI TODAY FOR THIS BLOCKCHAIN CONFERENCE. STUART: JIM ROGERS, THANK YOU VERY MUCH FOR JOINING US. ANYTIME YOU WANT TO COME ON THE

5 thoughts on “Biggest market crash in my lifetime coming: Jim Rogers”

  1. Roger has been saying this for years, one day he will be right, he will just keep changing the dates !

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