Dominique de Kevelioc de Bailleul: In his most serious demeanor of recent memory, Jim Rogers of Roger Holdings said the U.S. economy is in for a very rough sledding akin to other major crises since the beginning of the republic. In fact, the 69-year-old veteran of the commodities markets said even he is “worried.”
When asked by Newsmax’s Kathleen Walter about the state of the U.S. economy, Rogers said he’s not particularly concerned about 2012; it’s an election year, after all. But after the election, in 2013 and 2014, “it’s coming again” —that slowdown expected by many analysts to lead to a sovereign debt crisis in the U.S., much like what has afflicted Greece. Get my next ALERT 100% FREE
“. . . this year is going to look good and feel good, because Mr. Obama is going to give out a lot of good information,” Rogers said. “It may be manipulated information, but he’s going to put out a lot of good information. He’s going to spend a lot of money; he’s going to print a lot of money to get us through the election.”
But post-election, conditions will change, the data will change, and the financial turmoil that the markets have already enduring will accelerate appreciably, according to Rogers.
“Be very worried about 2013 and be very worried about 2014, because that’s when the next slowdown comes,” Rogers stated. “In 2002 we had a recession and in 2008, it was worse because the debt was so much higher.”
He added, “The next time is going to be even worse because the debt is so staggeringly high now. So if you are not worried about 2013, please — get worried.”