Jim Rogers fears the worst for Japan.
In an interview with Fusion MarketSite, the emerging markets and commodities guru says there is no way Japanese PM Shinzo Abe’s growth policies can possibly succeed — there are already many trends working against him, and his plan will only make things worse.
Here’s the exchange:
Fusion: How does it end in Japan – in tears ?
Rogers: Of course it does. Japan has a very serious problem. When we look back, Mr. Abe will have ruined Japan. Huge debt levels, horrible demographics, they won’t let in foreigners, the population is declining. Mr. Abe comes along and says he’ll ruin the currency. It is a disaster in the long term, and not guaranteed to work in the short term, either.