Not long ago, we talked about even less alarmist about the Jim Rogers on a programmed collapse of sterling. This time, it is a cataclysmic economic, social and political predicts the Cassandra bow tie. To read this, it even comes to believe that Cassandra was a merry prankster finally compared Mr Rogers ...
If the EU and the U.S. have experienced some signs of improvement, the global economic crisis is far from over, assures us there. And the rest of the world will not escape the contagion.
Certainly, China seems to back off, but all is not rosy in the Middle Kingdom. Real estate is doing well (too well?) In coastal regions, but the export-oriented industries are beginning to be suffocated by the U.S. crisis. In Europe, the eyes are a long time to Greece. Goldman Sachs is ostracized for having helped the country to conceal his financial difficulties.
But according to Rogers, this is only the tip of the iceberg. Nations such as Italy and France they are also a double-accounting: the first is official and allows these states to remain in the euro area and the second is informal and gives a real measure of their financial mess.
And this kind of practice is not gray as Europe. They are also used in the United States and has been for decades: "It's just the way the world has always worked," he says. But these countries can not forever hide their difficulties. Already, people in California, Virginia and New Jersey show their discontent.
The day the truth will emerge, Rogers warns that social unrest will increase. And voters will tend to flee to the more extremist parties, we predicted the gloomy oracle, who described a nightmarish remake of Europe from 1930 to 1940.
A crisis worse than 1929
If you had a little optimism, expect to read the following diagnoses of our good Dr. Rogers.
The United States will be far more difficult to get out of the current crisis than they have had to get out of the recession of 1929. At the time, the country was the backer of the planet. Today, the U.S. is the world's largest debtors.
And yet, the social changes that have taken place since the 1930s have undermined one of the pillars of the U.S. economy: the work ethic of its people. Meanwhile, we still have the oil you say? Well, no Jim answers! The reserves are depleted and the energy prices will stay high for long.
Ultimately, if we are lucky a bit, we could - perhaps - to a slight decline in oil prices if, for example ... the United Kingdom went bankrupt!
We know the man has already predicted the collapse of the pound. Comforting, friend Jim told us that the euro would survive a little longer. But in the long term, in its current form, the euro will not survive. According to Rogers, his only chance would be to bring the countries of the area to a dozen members, among the strongest financially.
Anyway, the U.S. government has little merit in his eyes. Rogers sees the country's leaders as dangerous optimists "are hoping the intervention of a fairy godmother" to solve all their problems.
Finally, to end on a note ... a little darker, Rogers warns that major crises looming food shortage is ...
3 years ago
