Posted on 07/27/2010 9:36:40 PM PDT by DeaconBenjamin
Jim Rogers, the market sage, has warned the global economy is just two years away from another recession, but remains ill-prepared to cope with the after-effects.
Mr Rogers, the respected currency trader and hedge fund pioneer, cautioned that when the downturn takes hold "the world is going to be in worse shape because the world has shot all its bullets."
Speaking in an interview with business television channel CNBC, the septuagenarian investor said that "since the beginning of time" there has been a recession every four-to-six years, and that's mean another one is due around 2012.
However, he said that due to the extraordinary measures already adopted by central banks and governments around the world, the arsenal of available tools to combat the next recession is somewhat lacking.
With reference to Ben Bernanke, chairman of the US Federal Reserve, he said: "Is Mr. Bernanke going to print more money than he already has? No, the world would run out of trees."
Meanwhile, Robert Shiller, co-creator of the Standard & Poor's/Case-Shiller house price index, warned that the next downturn may come even sooner.
"For me a double-dip is another recession before we've healed from this recession. The probability of that kind of double-dip is more than 50pc. I actually expect it," he said. His prediction came despite the S&P/Case-Shiller index for May showing a 4.6pc year-on-year increase in house prices in 20 major US conurbations.
(Excerpt) Read more at telegraph.co.uk ...
What are we going to do with the old recession?
I dread 2011.
Except for spending cuts, tax cuts and regulation cuts.
We can sell it on Craigslist as a virtually brand new, never used 'recovery'.
lol
UH....”another”....I didn’t realize the current one has (or will) ended....is there good news here?
A new one? Crap, we ain’t done with this one yet.
Trade it in for a new, improved depression.
Trade it in for a new, improved depression.
That’s what 0bama dreams about every night.
I think these guys are optimistic. The numbers that keep trickling out show no significant rise in any of the sectors that should be healing due to all this money printing. Mortgages are still messed up, unemployment is super high, housing is still in the toilet, and today’s consumer confidence was awful. Just because we have positive numbers here and there, nobody is feeling it because it is so slow. And now add in higher taxes on Jan 1. DOOOOOMMM!
By design.
Oil spill in Michigan, ‘biggest ever in the midwest’
Another spewer in Louisiana waters, besides the Gulf oil spill...
News media?
Crickets.
People still have no concept that Obama and the RATS in Congress have scared the living hell out of businesses in this country. Scared them so bad they are paralyzed out of fear for spending any money on anything...
You’ll never hear the media say anything about it though...
its the same one. We will never get out of this, until all the bad debt have been purged from the system
It is not only businesses that have "hunkered down"..., anyone with a few coins to rub together (and with horse-sense") has done so as well!!!
“Except for spending cuts, tax cuts and regulation cuts.”
With FDR the second in the White House we will get just the opposite!
New recession is starting now, consumer confidence back to February levels. National Debt at $1.5 Trillion for FY 2010. Unemployment rate has dropped 1/2 % but only because more than 1 million people are no longer part of the labor force.
Corporate profits have been pretty good but that’s just because they are borrowing money cheaply and made a return on investment thru May before the market dropped 15% or so.
Obummer is coming to Detroit, perfect timing. We’ll have to give him the nickname “Taking a Leak”
Yes... right on. Unfortunately, his anti-business attitude will continue and cause major harm to the stock market.
I am aware of the recent up-swing in the market, but if you are an individual investor, I suggest that you look at things a bit more sober tone... Take the profits as they come, but don’t expect long term profits as you would have in the past. Things are not as they normally were...
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