Tuesday, May 28, 2019

People don't seem to notice small problems

Jim Rogers warns of the upcoming disaster for Financial Markets via Economic Times

"It has been over ten years since we had a serious bear market in United States so all this is America history. I would suspect by the end of this year or next year I'll start but the situation these things always start small where people are not looking and then they work to the major markets and then you see them on the major news out but in 2007 Iceland went bankrupt but nobody noticed or cared, then bankrupt, then a few weeks later went bankrupt and a few weeks later Northern went bankrupt and then eventually Lehman brothers went bankrupt by then everybody knew there was the problem. But had so over a year and it has always worked that way. It starts when we are not watching. It has already started. Latvia collapse. Argentina, Venezuela, Turkey, some banks in India are having problems, Indonesia so it has already started the problems so. It has not made the news evening news yet. All these markets are small but markets are small and then made the big markets, people do not notice."

Jim Rogers co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.