American multimillionaire investor Jim Rogers is confident that the us economy in the next 12 months will be in recession. He said this in an interview with Bloomberg.
According to Rogers, the probability that the U.S. economy will decline for a duration of one year is 100%.
“It’s been seven, eight years since the last recession in the USA. Historically it is repeated every 4-7 years for a variety of reasons,” said the investor. “It shouldn’t happen in four years or seven years, but look at the debt — it is staggering,” added Rodgers.
The Agency clarifies that the estimates of most economists wall street is much less pessimistic — they estimate the probability of upcoming rececie 33%.
In addition, Rogers warned about the danger for the U.S. currency. “It [the dollar] could become a bubble”, — said the billionaire. In his opinion, investors will invest in the dollar, as markets around the world “fail”. It is therefore, concluded Rogers, buck “can turn into a bubble”.
In an interview in June 2015 Rodgers said that it was time to invest in Russian rubles and Russian agriculture. He noted then that he had not seen the prospects in Russia for 47 years. “Now I’m investing in Russia, I like it here, I can see tremendous changes that occurred in the Kremlin, they understand that Russia needs foreign investors”, — he explained then.