"I'm extremely worried," our friend Jim Rogers told Fortune magazine over the weekend. “I just see things getting much worse this time around than I expected.
"Conceivably, we could have just had recession, hard times, sliding dollar, inflation, etc., but I'm afraid it's going to be much worse," he says. "Bernanke is printing huge amounts of money. He's out of control, and the Fed is out of control. We are probably going to have one of the worst recessions we've had since the Second World War. It's not a good scene."
"I'm delighted to see what's happening in Shanghai and Hong Kong," Rogers said of the recent 20% pullback in many Asian markets. "As I've said, if things hadn't cooled off, the Chinese market was in danger of turning into a bubble. I find this most encouraging... I would suspect the correction isn't quite over in China. But I'm gearing up. I didn't put in any orders for tomorrow, but I'm starting to prepare my list of things to buy in China. Whether I buy this week or this month or this quarter, who knows. But I'm starting to think about buying new shares in China for the first time in a while. And I'm not thinking about buying in America."
"Conceivably, we could have just had recession, hard times, sliding dollar, inflation, etc., but I'm afraid it's going to be much worse," he says. "Bernanke is printing huge amounts of money. He's out of control, and the Fed is out of control. We are probably going to have one of the worst recessions we've had since the Second World War. It's not a good scene."
"I'm delighted to see what's happening in Shanghai and Hong Kong," Rogers said of the recent 20% pullback in many Asian markets. "As I've said, if things hadn't cooled off, the Chinese market was in danger of turning into a bubble. I find this most encouraging... I would suspect the correction isn't quite over in China. But I'm gearing up. I didn't put in any orders for tomorrow, but I'm starting to prepare my list of things to buy in China. Whether I buy this week or this month or this quarter, who knows. But I'm starting to think about buying new shares in China for the first time in a while. And I'm not thinking about buying in America."
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