Legendary investor, author, and financial commentator Jim Rogers recently spoke with Bloomberg and issued a stern warning. Mr. Rogers responded to the idea that because central bank policy since the 2008 has kept growth ‘positive,’ all be it barely, it has therefore been beneficial.
Mr Rogers bluntly notes:
“The central bank of America, they have no clue what they are doing. They have driven interest rates to levels never seen in history. The rest of the world followed. The debt has skyrocketed, gone through the roof.”
“I know what would have happened (if the Fed hadn’t done what it did). We would have had some more bankruptcies. We would have had a horrible year or so and then everything would be fine now. We are all sitting here wondering how this is all going to end. I know how this is going to end. It is going to end badly.”
“Many pension plans are going broke. Insurance companies are going broke… If we had taken the pain in 2009 or 2010 by now things would be great… You take the pain. You clean out the mistakes and then things boom.”
“We have strange elections because nobody is happy. Everyone in the world whether its Europe or Asia or America, we know something is wrong and we are trying to figure out what to do…”
There is more to the interview. Enjoy it below