JIM ROGERS: The worst crash in our lifetime is coming

Business Insider ^ | 8 Jun 17 | Jacqui Frank and Kara Chin

[SkyPilot]

Legendary investor Jim Rogers sat down with Business Insider CEO Henry Blodget on this week's episode of The Bottom Line. Rogers predicts a market crash in the next few years. One that he says will rival anything he has seen in his lifetime. Following is a transcript of the video.

Blodget: One of the things I’ve always admired about you as an investor is that you don’t talk about what should be. You figure out what is going to be and then, you do that. So what is going to be with respect to the stock market? What’s going to happen?

Rogers: I learned very early in my investing careers: I better not invest in what I want. I better invest in what’s happening in the world. Otherwise, I’ll be broke. Dead broke.Well, what’s going to happen is it’s going to continue. Some stocks in America are turning into a bubble. The bubble’s gonna come. Then it’s gonna collapse and you should be very worried. But Henry, this is good for you. Because someone has to report it. So you have job security. You’re a lucky soul.

Blodget: Well, yeah, TV ratings do seem to go up during crashes but then they completely disappear when everyone is obliterated, so no one is hoping for that. So when is this going to happen?

Rogers: Later this year or next.

Blodget: Later this year or next?

Rogers: Yeah, yeah, yeah. Write it down.

Blodget: And what will trigger it?

.........................

Blodget: And how big a crash could we be looking at?

Rogers: It’s going to be the worst in your lifetime.

[TheNext]

All big retailers have infrastructure, JC Penny, KMart, Target. Infrastructure is omnipresent everywhere. Empty buildings everywhere. Plenty of shipping exists such as UPS.

CEOs of every retail company are losers, big losers. They know what they see. But software is unseen.

Every big retailer’s software is trash. That is the DIRECT connection to their customer, and it is trash.

CEO losers.

Hey, let us hire more of the same, with disdain for their customer. lol

[central_va]

If during cancer treatment I get stung by a bee but then I die 3 years later are going to blame my death on the sting?

Your first post was true. You accurately depicted the cause of the Great Depression but forgot to insert the globalist mantra lie about Smoot - Hawley! Whoops!

[editor-surveyor]

.
He has predicted market crashes almost every year.

What happened to the crash he promised in February 2016?

All of this market doom is the wishful thinking of the international bankers that hate to see the world’s only free nation on top.
.

[editor-surveyor]

.
>> “This whole thing is not about “if”. It is about “when”, and it’s NOT just the US.” <<

Read your Bible!

The economic doom is all in the 7th seal.

We’re presently at the early part of the 6th seal.
.

[abb]

Cramer’s a frontrunner. He’s just not been caught yet. He’s the new millennium version of Dan Dorfman.

[Old Yeller]

I won’t believe it until Kramer tells me it’s so.....................

[Red Badger]

I’d believe him before that fat pig one............

[Lumper20]

EF Hutton. Sorry for my typing.

[Lumper20]

Obama opened Freddie and Fannie to every minority for home loans. Look at all the new construction now.

[TexasGator]

So your advice to avoid the downturn is to never invest in stocks?

[Lumper20]

True.

[SaveFerris]

Nobody believed me in 2006 nor 2007.

And it was worse than I thought. I was already feeling the effects.

I know all too well the damage that’s been done.

[SaveFerris]

He’s now on silver.

[roadcat]

No, I am not going to tell you to move EVERYTHING in to physical metals. I AM going to suggest you move 5-10% into “hard assets.”

You want my take on protecting yourself with some value insurance? Move 5% into cash and keep it handy around the house. You'd be surprised how many people don't have any cash on hand. If you do have it, and it's in a bank, you may have difficulty obtaining it when the SHTF during a collapse. A lot of people don't even have cash at all, living paycheck to paycheck. Cash will help you get what you need in hard times, from black markets or paying under the table for goods and services. Not everyone will take physical metals, let alone give you change.

[mjp]

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.

Puerto Rico

in 2017 alone such well-known companies as Payless, Wet Seal, The Limited and hhgregg have filed for protection.

[SaveFerris]

Seen some empty Payless stores around me. A shell with nothing in it.

[SaveFerris]

Kramer: All these big companies, they just write it off!

Jerry: You don't even know what a write-off is!

Kramer: Do you?

Jerry: No. I don't!

Kramer: Well they do. And they're the ones writing it off.

[elcid1970]

Silver’s barely over $17.00/oz. Bill Devane must be planning to corner the market a la Hunt Bros in 1980.

Sure, I keep some silver cartwheels in the safe. But cash out from stocks? Oh, ye of little faith....

[SaveFerris]

My suggestion would be some in cash, some in cash funds, etc. IOW, a good mix.

I moved my (now long, long gone) 401(k) type money (it was just a few thousand) into bonds in 2007. I actually was still going positive even in 2008 when I had to cash it all in.

Now -— it’s a much different reality. LOL (ouch)

[Vermont Lt]

For this to become Venezuela overnight, we are going to have bigger problems than no cash. And if it gets to that point, the cash you have on hand will make no difference as it will be worthless (compared to anything else you would barter with.)

We might be headed for a depression, but we are not headed for Mad Max world.

There is a lot of hyperbole getting tossed around and it is scaring a lot of people who have no clue as to what is coming, or what is going on.