Worst Crash In Our Lifetime Coming This Year Or Next – Jim Rogers

GoldCore's picture

Worst Crash In Our Lifetime Is Coming - Jim Rogers

Legendary investor Jim Rogers sat down with Business Insider CEO Henry Blodget on this week's episode of "The Bottom Line."

Rogers predicts a market crash "later this year or next .... write it down." Rogers say the crash will rival anything he has seen in his lifetime.

Jim Rogers holds a gold coin (Digital Journal)

Here is a transcript of the Business Insider video:

Blodget: One of the things I’ve always admired about you as an investor is that you don’t talk about what should be. You figure out what is going to be and then you do that. So what is going to be with respect to the stock market? What’s going to happen?

Rogers: I learned very early in my investing careers: I better not invest in what I want. I better invest in what’s happening in the world. Otherwise I’ll be broke — dead broke. Well, what’s going to happen is it’s going to continue. Some stocks in America are turning into a bubble. The bubble’s gonna come. Then it’s going to collapse, and you should be very worried. But, Henry, this is good for you. Because someone has to report it. So you have job security. You’re a lucky soul.

Blodget: Well, yeah, TV ratings do seem to go up during crashes, but then they completely disappear when everyone is obliterated, so no one is hoping for that. So when is this going to happen?

Rogers:

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Dr_Snooz's picture

If I had a dollar for every one of these headlines I've seen, I'd be richer than Jim Rogers.

Oh, and this headline brought to you buy a gold merchant. Yeah, gold has been working out REAL well... How long have you guys been predicting a hyperinflation? About as long as gold has been trending sideways to down. Buy your con today before it goes poof tomorrow!

InnVestuhrr's picture

Will Godot be arriving at the same time or still later ????

aloha_snakbar's picture

Bow ties are slightly less gay than string ties...

I liked Jim Bob better when he was going through his 'biker phase'...

TePikoElPozo's picture

wooo-hooo!!

can't wait to start shootin' !

HRClinton's picture

"This year or next" is going on a few Tours old now, Jimbo.

Who knows what he really does, versus what he says. I don't trust someone who was a partner of George Soros.

axel_hose's picture

Two words: Stopped Clock

AgentScruffy's picture

I'd prefer that investors not make predictions. All signs are to an epic crisis sometime within our lifetimes. No one can predict when. It could be 10 years from now. That said, if these predictions of 1-2 years get apathetic people's attention to they begin to prepare, then Rogers is doing a service. Kudos to Jim Rogers for tirelessly trying to warn average Joes - who he knows get stuck holding the bag in huge meltdowns. 

No Escape's picture

It's been coming since 1933, and looking worse after 1971

Mr Perspective's picture

Where is this moron going to hide when his alleged "crash" happens?  His public boasts of bullion purchases paints a big gold "rob me" sign on his dumb ass.

Peterman333's picture

One thing I'll be glad about when it happens is that we'll no longer have to hear this guy sayng "worst crash in our lifetimes is coming soon"

We know JIM, anyone can look around at the state of things in the world and understand it, you're not some prophet.

This is the same guy that said his kids live in China because he knew for so long the west will collapse. Well lots of luck to them in China, I'm sure it will be a veritable shan-gri-la after the collapse/wars/ whatever else is coming down the pike.

aloha_snakbar's picture
Worst Crash In Our Lifetime Coming This Year Or Next

If he truly believed that, WHY would he even care about waiting for the dips to buy?

HRClinton's picture

Sounds like "The End is Near. Jesus is coming."

They've been saying that for almost 2000 years.

What can I tell ya, about how dumb and gullible people are?

But this time it's different... The End Is Near.  ;-)

Fake Trump's picture

This Summer is about time. Long overdue.

decentralisedscrutinizer's picture

 

Why waste time on this alligator when the swamp’s most critical economic and political problems revolve around the hegemony of a global corporate cartel, which is headquartered in the US because this is where their dominant military force resides. The US Constitution is therefore the “kingpin” of an all-inclusive global financial empire. These fictitious entities now own the USA and command its military infrastructure by virtue of the Federal Reserve Corporation, regulatory capture, MSM propaganda, and congressional lobbying.

 

The Founders had to fight a bloody Revolutionary War to win our right to incorporate as a nation – the USA. But then, for whatever reason, our Founders granted the greediest businessmen among them unrestricted corporate charters with enough potential capital & power to compete with the individual states, smaller sovereign nations, and eventually to buy out the USA itself. The only way The People can regain our sovereignty as a constitutional republic now is to severely curtail the privileges of any corporation doing business here. To remain sovereign we have to stop granting corporate charters to just any “suit” that comes along without fulfilling a defined social value in return. The "Divine Right Of Kings” should not apply to fictitious entities just because they are “Too Big To Fail”. We can't afford to privatize our Treasury to transnational banks anymore. Government must be held responsible only to the electorate, not fictitious entities; and banks must be held responsible to the government if we are ever to restore sanity, much less prosperity, to the world.

 

It was a loophole in our Constitution that allowed corporate charters to be so easily obtained that a swamp of corruption inevitably flooded our entire economic system. It is a swamp that can't be drained at this point because the Constitution doesn’t provide a drain. This 28th amendment is intended to install that drain so Congress can pull the plug ASAP. As a matter of political practicality we must rely on the Article 5 option to do this, for which the electorate will need overwhelming consensus beforehand. Seriously; an Article 5 Constitutional Convention is rapidly becoming our only sensible option.

 

This is what I think it will take to save the world; and nobody gets hurt:

 

28th Amendment:

 

Corporations are not persons in any sense of the word and shall be granted only those rights and privileges that Congress deems necessary for the well-being of the People. Congress shall provide legislation defining the terms and conditions of corporate charters according to their purpose; which shall include, but are not limited to:

 

1, prohibitions against any corporation; a, owning another corporation; b, becoming economically indispensable or monopolistic; or c, otherwise distorting the general economy;

 

2, prohibitions against any form of interference in the affairs of; a, government, b, education, c, news media; or d, healthcare, and

 

3, provisions for; a, the auditing of standardized, current, and transparent account books; b, the establishment of state and municipal banking; and c, civil and criminal penalties to be suffered by corporate executives for violation of the terms of a corporate charter.

    

PleasedToMeatYou's picture

decentralisedsc...

Copies and pastes here at ZH the verbose rants that he writes to himself. 

...sorta like Bruce Wilds, but without his own blog.

AND, with over twenty 30 pastes in about 24 hours of the EXACT same piece of crap that he's been pasting for weeks now, he's really got some sticky diarrhea. 

Lost in translation's picture

Or the year after that.

Or the year after that.

Or the year after that.

Or the year after that.

Or...

VangelV's picture

Rogers has been very clear that the central banks can prop up markets for a long period of time.  His fundamental analysis is sound and his conclusion about what will happen is sold.  We have a choice.  We can hope that the CBs can keep propping up markets until we are ready to sell so that we can use our profits to buy cheap assets after the crash, we can keep believing that a crash is impossible and just go for the ride, or we can be cautious and get out before the collapse.  The only real issue is how to hedge against a currency crisis.  

Warthog777's picture

Real Assets? Isn't that where precious metals come in?  Isn't that why CB's are buyers? Problem is with all the hanky panky goings on, people have to pay a premium to hold those. They have been monkey hammered so hard their noses are at ground level.

So, real estate in a bubble, bonds in a bubble, stawks in a bubble, what's a guy (or gal) to do?

optimator's picture

What happens next is Weimar Germany as the Chosen convert their dollars and skip town.

 

LawsofPhysics's picture

LOL!!!  Sure, sure...

what a load of shit.  There will be no "crash" because the world's central bankers/financiers will never allow true price discovery again.  The world will go to war first.

 

Stud Duck's picture

I have a great deal of respect for Jim Rogers, he had been right on a lot of stuff, just trying to figure out how bad it is going to hit the Ag sector. Piling up cash to buy land when it crashes!

Honest Sam's picture

How did his extremely bullish "Commodities" recommendations work out for those that bought them when he was (and still is) a bull on China? 

From my remembrance of his prediction several years ago, a lot of people would have been wiped out. 

geno-econ's picture

It has been a s l o w collapse so you will not feel it.  In fact, it has been in progress for quite a while evidenced by increasing Deficits worldwide as well as, wealth destruction that suggests overall system is in decline althoigh some within system are doing very well indeed and some nations even growing (China). The definition of a total collapse is when the economic system as well as  government undergoes a drastic overhaul. No such movement or change in sight even with Trump  at the helm. However, we are headed in that direction if there is no change in course .   There is a prevailing view by Rogers and others that the next unavoidable businass cycle or financial crisis/correction may provide the impetus for a top to bottom change because there will be no acceptable alternative in continuing the slow but persistant pain of a declining middle class.  

PleasedToMeatYou's picture

"Rogers:           "

So, that last question left Jim Rogers speechless?  Not possible! 

JailBanksters's picture

What if it doesn't ?

What if all the other Rothschilds owned Central Banks fail, and the last Banker Standing is the most Insidious of them all, the Feral Reserve.

 

aloha_snakbar's picture
Worst Crash In Our Lifetime Coming This Year Or Next

Or the year after that
Or the year after that

Or the year after that
Or the year after that
Or the year after that
Or the year after that

Or the year after that
Or the year after that

Anon2017's picture

This is a doom porn web site. But it is a counter to all of the puff pieces that appear on Yahoo Finance or other mainstream financial web sites. 

HRClinton's picture

It took you HOW long to figure that out?

Peace. 

Silver Savior's picture

Silver will be worth more than gold so why do gold at a 70 silver to 1 gold ratio? Sounds to me getting so little gold for the money compared to all the silver you could get is kinda crazy. A gold numismatic collection is always nice though. For bullion the situation warrants silver for sure.

aloha_snakbar's picture

Silver is awesome...in the not too distant future people are going to look back and think $50.00/oz silver was a bargain...

Silver Savior's picture

Yes. That is why I don't get the people who bought at near $50 an ounce silver and cry about it. If they have been buying silver after the 2011 high they would have dollar cost averaged their way out of it. 

I can't even begin to tell you how good stacking silver makes me feel. I have hope again out of a hopeless situation. 

thecondor's picture

I have been hearing that the crash is coming this year or next for the last decade.  Quit trying to call the collapse Just be prepared and when it comes, you'll be ok.  Until then, just enjoy life and stop dooming and glooimg and trying to sell subscriptions Jim. 

Silver Savior's picture

Actually the crash has been going on since the year 2000 and the stock market is at these numbers because the dollar is declining in value and is being propped up by central banks.

847328_3527's picture

You are correct. The crash is a slow motion disaster for the private sector middle class for at least 16 years while bankers, gubmint employees and politicians have done wuite well.

 

It will probably get worse for the middle class but it wil be nice to have company from gubmint employees to suffer a little also. Remember, Obama gave gubmint employees a 3-5% wage increase EVERY year and as well as exampted them from Obamacare.

 

Only the private sector has been reamed and sodomized hard.

LawsofPhysics's picture

LOL!!! Define "private" sector!!!

I wonder where all those bankers and financiers would be today without TARP, TALF, and ONGOING NIRP/ZIRP!!!

Private sector my ass, where's my printing press?

Honest Sam's picture

Would only remove one word from your opinion:  "Probably" in the 2nd sentence.  

Honest Sam's picture

Would only remove one word from your opinion:  "Probably" in the 2nd sentence.  

buttmint's picture

"Jim Rogers two daughters are learning to speak, read and write Mandarin"

Fucker has to insert that in every interview.

amadeus39's picture

Envy is such an ugly emotion.

 

Conax's picture

The trouble with Mandarin is that it sounds like a sicko torturing an alley cat.  China teaches their school kids Engrish so they can do de business better around the world. And it can be typed with only 26 letters! 

Bigly's picture

Even hong kong speaks Cantonese than English.

Sheer #s...ok mandarin wins.  But i would not bet the house on that.....

ToSoft4Truth's picture

16 years?  Rumor is back in the 1970's (50 years) all jobs had medical care and most had retirement plans. 

 

Today, most workplaces have dropped even a 401K match.

 

 

SurlysonofaBitch's picture

The 1970s? Hell, in the 1850s most families had their own farm, cows, horses and Negros. It's been all downhill since. 

Anon2017's picture

In the 1970's, companies that offered pension plans had 10 year vesting requirements and were worthless to many employees. If your company offered a pension plan, you were not allowed to take an IRA deduction even if you weren't vested in the company plan. The worst of both worlds. But medical insurance benefits were better. 

Honest Sam's picture

For real affickin.....affikin......offikinea.......fans of the genesis of the decline of the middle classes, the official date goes back to 1979-1981. Approximately. It began in Pittsburgh of all places. Which at that time had 17 of the Fortune 500 HDQs. Within a few years they were down to three.

The U.S Steel workers in Pittsburgh demanding and getting 25 weeks PAID vacation.  That was the final straw for USS in deciding to kill off the unions by any means necessary. The exodus to cheaper countries, states, and other environs was a Sherman's march thru Atlanta for american manufacturing.

That was followed by the Sale of Gulf Oil to Chevron (instead of Gulf Oil buying Chevron or the two remaining separate corps)  then there was the Mike Milken era of LBOs,  Mergers and Acquisitions, and then along with that the Ivan Boesky and Investment banking firms'  taking trillons in fees, simply for taking one company or several and sticking them together, eliminating millions of jobs overnight.  Took no genius to figure out you could eliminate the administration expense of one company totally, and the resultant 'savings' by ruining middle class employees would rise to pay off the executives who remained, boost the long term liability portion of the balance sheet to unconscionable levels to pay down the debt and INTEREST to the banksters. 

A variety of these kinds of deals proliferated since then, including the concocting of Derivatives that packaged and sold these debts, monetizing them for the deal makers. All of whom, if there were a Satan, should have been burnt in hell.

 

 

Shed Boy's picture

Close, you have the time frame right. But it was NAFTA that really killed off the middle class. ANY society that goes from a design/manufacture/sell to the world scenario to a strictly consumer society is doomed to eventually become a scavenger society when they no longer have money to consume with.

Honest Sam's picture

I'd add that NAFTA came much later in the clinton admenstruation. The deciine began in the late 70s, job wise, career wise, and small business wise. 

Only the consolidators and their accomplices in the Big Acctg and Law Firms, as well as the investment banks have profited by eliminating middle class jobs, and entire industries.

Exacerbated by the even later phenomena of the internet eliminating the middle men, sales forces, and other go betweens that Block Chains now seem to be doing.  (Contracts being a huge money maker for Lawyers are now subject to "smart contract" distributed (as opposed to centralized) processing which IBM, Microsoft and Google are spearheading. 

 

Bigly's picture

I agree with your assessments

:-)

CRM114's picture

It just looks like the Gubmint workers have done well, but when the entire system crashes and their pensions are rendered basically worthless, then it will in fact be better for those who have saved privately, or at least have funded pensions in cash.