Jim Rogers: "It's Going to Get Worse"

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Dec 06, 2011
"The problem of too much debt is not solved by more debt." - Jim Rogers


With markets rallying since Thanksgiving, not everyone is optimistic as we close out 2011. Among those is legendary commodity investor Jim Rogers who cautioned that Europeans may not find a solution to their problems and why the next crisis in the U.S. might be worse.


Jim Rogers even believes the U.S. might head into a depression as we are "shooting all our bullets" and the U.S. continues to go deeper and deeper into debt. On the market, Rogers believes the market may rally short term but believes no real rally will occur due to the underlying problem of high debts not being solved. What he continues to be bullish on are commodities and certain currencies. Currently, Rogers expects gold to decline further as it has gone up 11 years in a row without a major correction. Yet, he is not buying either gold or silver at current levels, but said he will purchase if their prices fall.