Renowned investor Jim Rogers warns of worst recession in his lifetime

Investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, expects the bear market to get much worse, adding that this will be the worst recession in his lifetime. “We’ll probably have one last rally, but that will be it“, he predicted. “Then we come to the end of the chain. Be concerned.“

Jim Rogers on the worst recession in his history

Famed investor Jim Rogers shared his views on the U.S. economy in an interview with Business Today, published Monday. Rogers is the former business partner of George Soros who co-founded the Quantum Fund and Soros Fund Management.

He was asked if the current moment was “the beginning of an impending recession, the worst ever as some have predicted.” Rogers replied:

Well, before it’s over, yes, it will be the worst in my lifetime.

“In 2008, we had a problem because of too much debt“, he explained. “But since 2009, the debt everywhere, everywhere, has exploded. So the next problem has to be the worst problem of my life because the debt has gotten so, so, so much worse.“

However, he noted, “That said, there is a tremendous amount of pessimism right now, and normally when there is a lot of pessimism, something happens and people rejoice for a short time.“

While noting that he does not make predictions, Rogers opined, “If there were peace in Ukraine, oh my, the pessimism would disappear and the stocks would go up.“

The famous investor warned:

So, something will probably happen. We’re probably going to have one last rally but that’s it. Then we come to the end of the line. Be concerned.

Regarding the stock market, he said, “There have been many times in history when stocks have done nothing for a long period of time or even gone down for a long period of time … Stocks don’t have to go up all the time. We’ve had a lot of long bear markets, and we’re going to, we’re going to have another one now, soon.“

While emphasizing that “this year has so far been one of the worst” and that bear markets “can be really, really devastating and surprising“, Rogers insisted:

Before the year is out, I expect that [it] that it will get much, much, much worse… Some companies will go out of business.

In July, Rogers warned that the worst bear market in his lifetime was coming. He also predicted the end of the American dollar.