Jim Rogers Sees a Possible Depression in 2013

By on December 7, 2011

Jim Rogers - Commodities InvestorMaria Bartiromo interviewed Jim Rogers on the floor of the NYSE yesterday.  Bartiromo said Rogers was forecasting a possible depression in 2013.

Rogers said “in 2002 we had a problem and in 2008 we had another problem when the debt was higher.”  In 2013 the problem is going to be worse still because “the debt is going through the roof,” according to Rogers.

Rogers said we are shooting all our bullets and wasting money.  Rogers considers the U. S. a bigger problem than Europe.  He mentioned several bankrupt states (Illinois, New York, California).

Bartiromo asked Rogers what his strategy was now to which he responded he wasn’t doing anything but sitting and watching to see what the Europeans would do.

Rogers commented further on the European bailouts; the euro versus the dollar (both of which he owns); China’s attempts to slow things down;  his shorting of U. S. tech stocks, emerging markets, and European stocks; being long on commodities, the Japanese Yen, the Swiss Franc; his view on gold and silver; oil and its effect on the economy; and John Corzine’s MF Global troubles.

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