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hello everyone I hope you're all having a great week my name is Drew the host of never behind has the up and downs of the market caused you a lot of stress this year today I've invited a special guest that has gone through several Market crashes and recessions but has made a fortune in the stock market and is one of the well-known legendary investors Jim Rogers personally whenever the market is unstable like the one we have today it has been very helpful to listen to investors like Jim who have been through several ups and downs and know how not to be distracted from the hype and news and thought his wisdom and insight for the market of 2023 and 2024 would be a great resource to my subscribers although the interview was planned for 30 minutes since we had so many great insights shared during our discussions the interview lasted for over an hour so I edit the interview into two parts focusing on the most important insights so on part one Jim shares his insights on why he thinks the market keeps going up although the US economy still has many issues and if he believes that we will bypass this period with a soft Landing as the FED says or if there has to be a hard Landing before we start a new bill run and also if he thinks the inflation will keep coming down to 2% or if there is a possibility that inflation starts to go back up again and of course what he sees might happen in 2024 due to the upcoming election now on the second part of the interview Jim shares whether he invests in high eeld bonds or if not what the biggest portion of his investment is in also he shares how much percent of his assets are in cash and the possibility of a melt up and also whether he is shorting the market or not and what sign he keeps an eye on for confirmation of a market crash getting really close I am pretty sure that this interview will be very helpful for your personal investment and highly recommend that you watch both part one and part two of the interview today and tomorrow I 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below hello everyone I'm honored to have one of the greatest known legendary investor of all times Jim Rogers on our Channel once again and I'm sure if you have been investing for some time in the stock market now it would almost be impossible not to know who Jim is and I thought it would be very helpful to hear Jim's insights on today's market especially since uh he has gone through several Market crashes and recessions that people are assuming will happen next year or in the very near future so thank you very much for your time today Jim well Andrew I'm delighted to be here good morning here good evening there so I personally had a question that I I couldn't figure out and we love to hear your thoughts on it so although the market keeps going up I see so many issues in the economy personally such as still having high inflation that is causing the credit card debt at the highest level in the US history and making situations more worse I personally think that inflation is not over it may go higher again we also have high fed fund rates that are causing issues for so many companies and also Banks which is I think leading to massive layoffs for you know the corporations to survive as a company we also are seeing that banks have approximately I think $650 billion do unrealized losses due to the fall of the bond prices and Commercial Real Estate also seems to be in a tough situation with over 1.2 trillion in debt where 70% of the loans are from Regional Banks and if they default I can see the possibility of so many banks falling as well with these realistic problems I would really love to hear your thoughts on why the market is still going up well Andrew central banks all and by the way your assessment is exactly right and when we finally face reality it's going to be the worst in my lifetime worst in your lifetime too you know we had a problem in 2008 because of too much debt Andrew since 2008 the debt has skyrocketed everywhere even China has a lot of debt you know China bailed the world out in 2008 but now even China has debt so I don't know who's left who can save us so your assessment is right the next time it's going to be a very very serious problem and the question is when and by the way the reason I know you're right is because the Federal Reserve says oh don't worry everything's okay those guys have never been right about it well we had we had a couple of good fed chairman in history but the fed's been around for over a hundred years so two out of two out of all that time is not not a good batting average not a good record so we're going to have serious problems the question is when as you well know I guess everybody should watch Andrew to find out when it seems to be coming I see various signs we see interest rates going higher we see inflation going higher we see lots of new investors coming in and saying this isn't easy way to make money I mean all the classic signs are rising well watch your show to find out when so the inflation has been coming down but I think it's going climbing up again recently but do you think that the inflation because it was like 99.1% in I think June 2022 but it's down to like 3.9% or approximately around 4% do you think that the inflation is being taken care of by the fed and the FED at the fomc meeting keeps saying that the soft Landing is working and they are on track and you don't have to worry that much do you have faith in the fed well Andrew I repeat what I've said to you before the most of the guys at the Federal Reserve do not know what they're doing you know they couldn't get a real job so they get a government job know that's why they're working for the government for goodness sakes and I hope you know that their track record is abysmal over the past many decades and it's abysmal again that's how I know we have problems cuz they say everything is under control and as far as inflation is concerned they say there's not much inflation they say it's coming down the government is telling us that but people call me or write me all the time and say where do these guys Shop prices are going up prices are high and the way markets work as you well know Andrew you go up you correct you go up you correct and that's what's happening with inflation too they took some measures now we're having the normal correction the normal reaction but don't worry inflation will be back so you're anticipating that we will have the inflation going up again and do you see that happening soon in the future because a lot of people around me are saying that don't worry about inflation it's coming down so I love to hear you know your thoughts on what you think about the inflation no of course it's coming back we have various inary conditions around the world including money printing everywhere you know nearly well yeah everywhere there's huge amounts of money printing going on that will probably continue nothing goes straight up or straight down but there will be Corrections along the way but I look out the window and I see all the central banks printing money the US has slowed down yes but you think those guys are going to Andrew when things get bad when they think things are bad you think they're going to say oh okay we made a mistake we give up we resign H and I going to resign they're going to print money faster and faster and faster and blame it on you they're going to blame it on some somebody maybe not you but they're going to blame it on somebody so I think an interesting thing about 2024 is I think there's so many people that anticipated a crash in 2023 which didn't happen and then a lot of people are saying that we are heading for another crash in 2024 but we do have the election next year and I would love to hear your thoughts if you think that there is a manipulation happening for the you know political reasons you know for the elections so in other words if we did not have the election next year do you think we should have been in a recession already looking at the economy today well if you go back and look at markets or economies doing historically every year before an election in the US the market has been strong because everybody knows that an election coming and everybody in the government does their best to make everybody happy it's happening again and usually or often what will then happen of course as we get closer to the election there's not much more they can do do and as you know the market looks ahead The Market discounts one of the Beauties to the market is it can see a lot further out than politicians it can see a lot further out than all of us so the market will start getting weak again so I would suspect that next year things will start getting bad we see the signs now but the election is they're gearing up they at Washington is gearing up for the elections they don't care about you and me they care about the election right right I I I totally agree on that so I guess based on your experience in the market the recession almost never happens I guess during the election years because they want to you know keep the people happy and get elected and all that so I guess in 2024 there might be a recession but it's not that realistic that we might have one in the early part or maybe even at on 2024 I guess we've always had recessions every few years there's nothing magic about that statement it's it's just something that's always happened not just in the US but all over the world politicians and and academics and many people have tried to stop it but so far nobody's found a cure to a way to prevent recessions anywhere in the world so Andrew it's coming yes it's already the longest period in American history without a major recession so we're overdue TimeWise now maybe it's different now maybe this is going to last forever and if you speak to the Federal Reserve or the central bank they will tell you don't worry we know what we're doing we've solved the problem and the secretary of the treasur says the same thing she's got degrees from two ivy league Scoops maybe she knows what she's talking about but I doubt it so then in your case I'm just curious since the market is going up these days and a number of stocks are going up in a market like this where the trend is heading high do you personally invest and take advantage of the trend going up or are you more cautious because you see a lot of companies that are overvalued and are more on the side of keeping cash and just waiting to see how the stock market does well I have sold most of I me sold nearly everything I mean I still have a few things here and there but no I have sold out partly because I'm lazy you know trying to cut time the all time high it takes a lot of work so I'm lazy so I have cut back enormously early obviously but it's better to be early than late and if you don't know that rule try it a few times and you will learn it's much better to be too early then too late since you said you were out of a major part of your assets or stocks since the bond yields are over like 5% these days with the cash do you park your money into the high yield bonds to take advantage of that interest rate or do you not personally buy any bonds for your Investments it is US dollars at the moment it is in Money Market funds essentially because that's the easy way for me I'm not positive on bonds you know in 1980 when we had a problem like this before interest rates on treasury bills were 21% that's not a typo 21% in in 1980 uh coming out of the aong inflationary bubble so interest rates can go much much higher you said they're high well 5% was high once upon a time but in the last few decades the world has learned to have much higher interest rates and we will have them again so you are anticipating that the interest rate on the bonds might go a lot higher than 5% in the near future I would like to find something else but that's the best thing right now would you be you know shorting the market in any way at this point if you see a market crash coming soon would there be a sign that you keep an eye on that you're convinced that we're finally at the stage where we're having a well prediction I will make for you is we will have a
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