The worst crash of our lifetime imminent
According to legendary investor Jim Rogers, the worst financial crash in our lifetime is coming soon.
Rogers, who discussed his outlook on “The Bottom Line” with Henry Blodget, told the Business Insider founder that the tremendous debt buildup and unreasonably high asset valuations have made the global economy even more vulnerable than it was in 2008, and that the next crash will the “the biggest in my lifetime.”
The spark that ignites the next crisis could be the collapse of a pension fund – or it could be something unforeseen, as Rogers explains.
“Well, it’s interesting because these things always start where we’re not looking. In 2007, Iceland went broke.
People said, ‘Iceland? Is that a country? They have a market?’ And then Ireland went broke. And then Bear Stearns went broke. And Lehman Brothers went broke. They spiral like that.
Always happens where we’re not looking. I don’t know. It could be an American pension plan that goes broke and many of them are broke, as you know. It could be some country we’re not watching. It could be all sorts of things. It could be war. Unlikely to be war but it’s going to be something.
If Jim Rogers is right, the worst stock market crash that any of us has ever seen is right around the corner.