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Jim Rogers Says the Rebound Cannot Last (CNBC May 11, 2009)

Mac Slavo
May 12th, 2009

 Jim Rogers appears on The Kudlow Report May 11, 2009 to discuss politics and economy in China, the outlook for commodities, President Obama’s stimulus packages, the market rally, and his forecasts on a market bust. (Interview follows excerpts and comments)

The market’s already looked ahead. We’ve had one of the strongest rallies in stock market history. Everybody’s looked ahead to December already. If you ask me things are going to be slow for a while in the stock market and the economy. Tell me what’s going to make the economy strong enough to justify all of this. Most sectors in the are not recovering.

Jim Rogers echoes the recent thoughts Marc Faber has on the financial markets, as well as Harry Dent, Jr. of HS Dent Investments, who suggests that a pull back is imminent. Ideas on how low it may go differ, with Faber having suggested a decline of 5% – 10%  in April when he believed the markets might hit 880 on the S&P, while Harry Dent is indicating that his most likely scenario in the event of a correction may take the Dow Jones to around 7400 before rocketing back to 10,000 or more by the end of the summer.

Of course we’re having a rebound [because the Fed has pumped money into the system] right now. But that cannot last. The dollar is under pressure. The bond market is going to be under pressure. You’re going to see unintended consequences from these people at the Federal Reserve.

In not so many words: If you are in the stock market – Get Out! (Or Get Short!)

Watch Jim Rogers on The Kudlow Report May 11, 2009:

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    Author: Mac Slavo
    Date: May 12th, 2009

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