Well known investor Jim Rogers on the Lew Rockwell Show May 17, 2009. Mr. Rogers discusses the market rally, his outlook for the global economy, policies of governments and his new book.
I don’t know when it’s going to come to an end. It’s a very powerful rally. In my experience when any asset rallies like this it usually lasts a while. We’ve certainly seen a bottom, I’m not convinced we’ve seen the bottom. And whether we see the bottom this month, this summer or this fall I don’t know.
I’m not rushing in to buy stocks in the US or anywhere for that matter.
Basically, Jim Roger’s advice here is: proceed with caution.
America is the largest debtor nation in the history of the world. The foreign debts are increasing at gigantic rates. This is a system that is in the process of bankrupting itself, which means it is bankrupting America.
This cannot continue.
Whether we see a total collapse of financial markets or a sustained rise in financial markets resulting from inflation, the long-term outlook for America is not good.