The US economy is "overdue" for additional economic issues and is on the verge of experiencing a "extremely bad" recession, investing legend Jim Rogers has said. Rogers, who co-founded the famed Quantum fund with billionaire George Soros in the 1970s, told MarketWatch in a recent interview that history would suggest that a recession is imminent.
He believes “America’s never gone this long without a recession in its history,” and it’s “overdue” for more economic problems. “I do know there’s going to be a recession again, and I do know it’s going to be extremely bad.”
If the economy turns sour, Rogers believes gold and silver will do well, along with commodities in general. Amid this prediction, Jim Rogers also has an investing advice.Kanpur Investment
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Gold and silver, in particular, have “always been places for people to hide during economic turmoil,” Rogers saidBangalore Wealth Management. “So I would suspect gold and silver would do well.”
“Gold is already doing well. Silver’s doing not bad,” he said.
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“If we’re going to have serious economic problems and more money-printing and more inflation, then…silver and gold will be a place to hide again,” Rogers saidChennai Investment. “If you were buying one today, you would probably buy silver because it’s down from its all-time high, and gold is near its all-time high.”
“Look out the window — you might see war out the window, you might see money-printing out the windowAhmedabad Investment. Gold is afraid of both of those things, always has been," he said.
According to the report, Rogers might purchase some silver but not gold, unless process move lower. And when it comes to precious metals, Rogers said he prefers to “buy the real stuff” — physical bullion.
Buying commodity stocks is a “fabulous thing to do — if you have the time and the knowledge to do your research,” he was quoted as saying.
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“You can make gigantic amounts of money if you buy the right stocks — gold and silver or anything — if you have the time to do your research,” said Rogers. You could “lose a gigantic amount of money very fast too, if you don’t know what you’re doing.”
Jim Rogers' comments come at a time when the United States is gearing up for its next pivotal and high-stakes presidential election, which will pit Donald Trump against Kamala Harris in a close contest in the first week of November. One of the most significant events for world markets and economies this year and the one to come is the presidential election.
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According to the data from the National Bureau of Economic Research, the longest period without a recession in the US was a roughly 128-month period from 2009 to 2020. America saw a recessionary period during the deadly Covid-19 pandemic in 2020. The "Great Recession" ran from 2007 to 2009 and it was one of the longest and deepest recessions since the Great Depression of the 1930s.
Earlier, this year Jim Rogers said that he gained a lot of insights about gold and silver from the women in India. The Singapore-based commodity guru and investor told NDTV profit that Indian women's strong preference for these precious metal shaped his perspective.
"I would visit Indian markets and notice Indian women with unbelievable amounts of silver and gold. So, I learned... I learned. They've taught me a great deal about these metals," Rogers had said. He added that it's important to have gold and silver in lockers.
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