Jimmy Rogers Expects New Recession Around 2012
Posted By thestatedtruth.com on July 27, 2010
Just a reminder…… Jim Rogers was George Soro’s original partner for the Quantum Fund. Both are now billionaires! Robert Shiller, co-creator of the Standard & Poor’s/Case-Shiller house price index, also warned that the next downturn may come, maybe even sooner.
By James Quinn, US Business Editor
Published 27 Jul 2010
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.
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.
Comments