Jim Rogers: “100% chance of financial crisis worse than 2008”

I don’t agree that commodities can only go up in this crisis. They dropped like stones in the last two recessions, I see no reason they should act differently this time. But I like his matter-of-fact assessment of the solution to this crisis: “too much debt, let these people go bankrupt now while there is still hope.”

If your browser is not seeing the embedded clip, here is the link to the CNBC site.

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3 Responses to Jim Rogers: “100% chance of financial crisis worse than 2008”

  1. michael says:

    It’s hard not to like Jimmy and his message but he and others like him are betting on a 70’s style inflationary binge that will propel all commodities and interest rates to much higher levels while equity markets languish in a volitile trading range.

    At the same time I think we can be assured that his invested billions are totally hedged and he will do just fine no matter the market direction.

    Like any politician though and as quipped by Jean Cretien in response to an opposition MP who made an unkind comment about the way he spoke out the side of his mouth….Mr. Cretien said he had a physical impairment that forced him to speak out of one side of his mouth, unlike a Tory who could speak out of both sides of his mouth at the same time.

    I find most letter writers and talking heads to be of similar ability.

  2. so, uhm….. do I buy gold or not?

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