Posted on 06/27/2016 10:55:41 AM PDT by GilGil
The UK's decision to leave the European Union will lead to an economic crisis more severe than what the world faced in 2008, according to legendary investor Jim Rogers, chairman of Rogers Holdings.
“This is going to be worse than any bear market you’ve seen in your lifetime,” he said on Yahoo finance’s “Market Movers” program Monday. “2008 was bad because of debt. The debt all over the world is much, much higher now. Stocks in the US, for instance, have been going sideways for 18 months to 24 months. That’s called a distribution by many people. When you have distribution for a year and a half, it usually leads to bad things.”
(Excerpt) Read more at finance.yahoo.com ...
Call me “suspicious” but I’m tempted to think that some people are trying to spread a momentary panic to create a buy opportunity for themselves at the expense of those they scare....
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The players in the markets know the markets have to correct. How long has the DOW been stuck on 18,000? They are going to make as much of not more money in the panic to the downside.
UK has the fourth largest GDP in The world.
I think the EU should get as much of the blame as obola.
Never trust a man in a bow tie.
” It was northern England where the blue collar people live.”
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Yep,and some Brit Millennials were whining that it wasn’t fair to them that the old and working class made the decision.
Libs are champions of the working class,so they say. The hypocrisy never ceases to amaze me.
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Yes, I agree. Your statement about the size of the UK economy - which you compared to the size of a pea - is ridiculous.
The data is readily available for any who would choose to look.
But let’s not let reality get in the way of your eyes closed, fingers in the ear opining without basis in fact.
A lot of these big corporations are enjoying this. There stocks have been overvalued for some time and now they’ve got something else to blame it on.
The EU leaders seem intent to punish and make an example of England. The benign EU mask has fallen off, revealing evil. England will ultimately be better off not captive to an evident globalist tyranny.
Wrong, of course, but then the a$$whole says:
“Stocks in the US, for instance, have been going sideways for 18 months to 24 months. That’s called a distribution by many people. When you have distribution for a year and a half, it usually leads to bad things.”
OK, so the bear market is being caused by what’s affecting the stock market for 18 months to 24 months, and not by Brexit. He said it, not me.
Need to call him tic the broken clock.
Why does he have this need to be in the limelight and proclaim doom over and over and over?
The market is due for a correction but this isn’t it. This is unfounded panic and manipulation. Makes no sense at all. Trade that was before will be after.
Foolishness.
A big share of my IRA is in boring stuff like dividend paying utility stocks and REITs. Most of them are up modestly since Friday. Probably investors fleeing the more glamorous stuff, ya think?
A princess could sleep on that economy and not even notice.
Hey Jim Bob - get a grip. Was the world in the dark ages before the EU came about? ... and here we have one country leaving the EU and there is panic by some. Great. It is a buying opportunity.
Now 6th after the revaluation of the GBP in reaction to the Brexit vote.
Agreed. A manipulation.
Based on the current drop in the pound.
“The debt all over the world is much, much higher now. “
How can the entire world be in debt? If I loan you a dollar, you owe me one and I am owed one. Same for a trillion. So how could EVERYONE be in debt?
The EU has demolished entire industries in the UK with its absolutely worthless regulations. Getting rid of EU regulations will liberate the UK.
In my opinion the stock market in the U.S. is down ONLY because of perceived uncertainty due to Brexit.
Perceived uncertainty.
As soon as some investors begin to see the potential of Brexit, the markets will take off.
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