Rogers: "100% Chance of Crisis Worse than 2008," Italy Implodes


Veteran investor Jim Rogers warned this morning that there is a “100% chance” the world is facing a financial crisis worse than 2008, as Italy was plunged into chaos on the back of soaring bond yields which now make the country’s huge debt unsustainable, mandating yet another EU bailout.

“We’re certainly going to have more crises coming out of Europe and America; the world is in trouble. The world has been spending staggering amounts of money that it doesn’t have for a few decades now, and it’s all coming home to roost,” Rogers, CEO and chairman Rogers Holdings told CNBC.

Rogers said the only solution was to allow countries to go bankrupt and start again, arguing that the continuing cycle of debt would only exacerbate the problem in the long term.

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FightTheGoodFight's picture
FightTheGoodFight
Rap-Con Supporter500+ posts
Joined: 08/31/2011
Posts: 652

Collapse

If we're not outta here before the end of this year, who thinks the economy will collapse before the holidays? Before the end of December?

lost_and_found's picture
lost_and_found
ModeratorRap-Con Supporter1000+ posts
Joined: 05/05/2011
Posts: 1621

I don't know about a total

I don't know about a total collapse but I personally think hyper inflation is inevitable.

MatthewJames
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Posts: 505

What Goes Up....

Must come down

lost_and_found's picture
lost_and_found
ModeratorRap-Con Supporter1000+ posts
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True let's hope we are gone

True let's hope we are gone before then.

thebigt's picture
thebigt
Joined: 08/31/2011
Posts: 35

stock market

just looking at the early stock market happenings this morning and the Dow Jones is up,,headline says Italy has stablized and investors are pumping money into the market. Funny isn't it how one day headline says Italy implodes, next day everything is fine. But the day is just getting started in the USA as far as Wall Street is concerned, never know what the market will be like in a few hours from now

FightTheGoodFight's picture
FightTheGoodFight
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Joined: 08/31/2011
Posts: 652

Holiday rush?

If one tiny little event like a speech by a politician can make the stock market tick up and down.... Imagine what would happen if ANYTHING prevented the normal consumption of goods in the holldai rush? Like Black Friday, one event could trigger a cataclysmic downturn in the economy in which it NEVER will recover. We're weeks away from the time when Americans stuff their shopping carts and things havent gotten any better...

I watched a video, I'm sure many of you have seen this too. www.newamerica3.com Its written from a secular viewpoint but given our knowledge of Bible prophecy you might find this interesting. Economic collapse isn't far off.

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