“This Is Insanity!” – Jim Rogers Warns Of “Horrible Time” Ahead
The Fed has increased its balance sheet over 500% in the past decade; The Bank of Japan is printing money to buy bonds and stock ETFs; and The European Central Bank is mired in insane negative interests. And, according to legendary investor Jim Rogers, they will continue this “madness” as long as its necessary.
In an interview with RT’s Boom Bust, Rogers exclaims, that interest rates around the world have never been this low:
“… this is insanity, that’s not how sound economic systems are supposed to work.”
In 2008, Rogers notes that we had problems because of too much debt, however, “since then the debt has skyrocketed everywhere and it’s going higher and higher. We are going to have a horrible time when this all comes to an end.”
Adding that:
…eventually, the market is going to say: ‘We don’t want this, we don’t want to play this game anymore, and we don’t want your garbage paper anymore’.”
And when that happens, Rogers warns that central banks will print even more and buy even more assets.
“And that’s when we will have very serious problems… We all are going to pay a horrible price someday but in the meantime it’s a lot of fun for a lot of people.”
When it comes to an end, Rogers laments, “it will be the worst of my lifetime.”
