Legendary investor and author Jim Rogers recently sat down with Kitco News in order to discuss his increasingly bearish outlook for markets. To cut to the chase, Mr. Rogers is calling for the largest market crash in his lifetime:

“We’ve had economic problems in the US, or in North America, every four to eight years since the beginning of the Republic. So to say that we are going to have a problem is not unusual. It would be unusual or bizarre if we didn’t have a problem again. Janet Yellen says we will not ever have a problem again, but if you believe Washington D.C., then you don’t accept what I am saying. But we have been having these problems. We are going to have another one. It’s been over eight years since our last one. The last one, Danielle, was caused by too much debt. Well since 2008, the debt has gone through the roof. The Federal Reserve alone, in the United States, its balance sheet is up over 600% since that time. That’s just in eight or nine years. So the next time we have a problem, which we will, despite Janet Yellen, it’s going to be the worst in your lifetime, and in my lifetime…”

In terms of the timing of said crash, Mr. Rogers isn’t planning on waiting long:

“I would expect it to start this year or next… It won’t happen in one night… In 2007 for instance, Iceland went bankrupt. Well most people never heard of Iceland. Then you had Ireland go bankrupt. Then you had Bear Sterns. Then you had Lehman Brothers. Well by then, over a year later, people knew something was wrong. That’s the way that things evolve.” 

Hard to argue with that.