{"id":30766,"date":"2018-02-09T16:16:01","date_gmt":"2018-02-09T21:16:01","guid":{"rendered":"http:\/\/olduvai.ca\/?p=30766"},"modified":"2018-02-09T16:16:01","modified_gmt":"2018-02-09T21:16:01","slug":"jim-rogers-next-bear-market-will-be-worst-in-my-lifetime","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=30766","title":{"rendered":"Jim Rogers: “Next Bear Market Will Be Worst In My Lifetime”"},"content":{"rendered":"
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Jim Rogers: “Next Bear Market Will Be Worst In My Lifetime”<\/span><\/a><\/h3>\n<\/div>\n
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For months now, Jim Rogers has been talking to anybody (who cares to listen) about the coming equity crash, which he said would be the “worst in his lifetime” – and he’s a spry 75 years old.<\/p>\n

Today, in his latest pessimistic prognostication, the co-founder of George Soros’ Quantum Fund told Bloomberg\u00a0 <\/a>that the fact that the total US debt pile has only increased since the financial crisis threatens to upend stocks, and that he believes the current turmoil will continue\u00a0 <\/a>until Jerome Powell and company hike rates next month. Or alternatively, it could just make the crash that much worse: as volatility surges and investors in certain highly risky volatility-linked products have seen all of their savings wiped out, the new Fed chair could rethink a hike, for fear of exacerbating the selloff.<\/p>\n

“When we have a bear market again, and we are going to have a bear market again, it will be the worst in our lifetime,” <\/strong>Rogers said. “Debt is everywhere, and it\u2019s much, much higher now<\/strong>.”<\/p><\/blockquote>\n

Rogers has seen severe bear markets, including the most recent crash when the Dow plunged more than 50% during the financial crisis, from a peak in October 2007 through a low in March 2009. It sank 38% from its high during the IT bubble in 2000 through a low in 2002.<\/p>\n

“Jim has been talking about severe corrections since I started in business over 30 years ago,”<\/strong> said Alibaba Group President Mike Evans, a former Goldman Sachs Group Inc. banker. “So I\u2019m sure he\u2019ll be right at some point.”<\/strong><\/p><\/blockquote>\n

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Ok, so we know the magnitude, we just don’t know the timing: why not also give a time frame for this next “epic” market crash? Simple: Rogers admits he’s terrible at timing selloffs, which – of course – is just as important as getting the event right.<\/p>\n

“I\u2019m very bad in market timing,” Rogers said. “But maybe there will be continued sloppiness until March when they raise interest rates, and it looks like the market will rally.”<\/p>\n

Listen to the interview below:<\/p>\n