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Jim Rogers a commodity expert has some advice for stock investors Rogers who has been warning about the accumulation of massive debt globally for some time claimed in an interview that this will be the worst recession of his lifetime according to the author of Street smarts Adventures on the road and in the markets a short-term rally cannot be completely ruled out but given the General market trends that would be the last rally he cautioned in today's video we're going to share with you the guru's perspective on the challenging economic climate and we're going to be letting you know about the shock proof assets he likes best right now so make sure you stay tuned having confounded Quantum fund and Soros fund management Jim Rogers is best known for his work as George Soros former business partner the seasoned investor predicted a difficult recession rejected Bitcoin as a viable currency and claimed that even a peace agreement between Russia and Ukraine wouldn't stop asset prices from eventually falling Rogers has frequently talked about his point of the American economy as a result of having too much debt he claimed we had problems in 2008 and since 2009 debt levels have increased significantly around the world he does however think that the upcoming inflation must be the worst he has ever experienced he added the debt oh my god look out the window the debt has skyrocketed everywhere so the next bear Market has to be horrible how can it not be horrible I mean the US has increased its debt by several times since 2009 Japan oh my God they can't even count the debt in Japan in many countries in the world the debt just goes higher and higher 2008 was because of too much debt it's much worse now I know more bear markets are coming the next one is going to be the worst of my lifetime he said Rogers elaborated many stocks are going down 70 80 90 of course that's gonna happen I just don't know when it's been 13 years since we've had big problems and that's the long longest in American history he noted I think that it's already overdue on a historic basis he further detailed we have very high valuations we have staggering debts we have a lot of new investors coming in it's not my first rodeo I've seen this movie I know how it works they're all going to lose a lot of money I hope I'm not one of them according to Rogers there is currently a great deal of pessimism but if something happens like a peace deal with Ukraine and Russia then the pessimism will vanish and stocks will rise something is probably going to happen and we may probably have one rally but that would be the last rally he said asking investors to be worried Rogers added that even though he holds a few short positions he has not yet begun to sell them according to him investors often search for results to be upbeat following a decline like the one the US experienced he did however point out to investors that there have been instances in history when stocks have remained stagnant or even declined for a long and painful period of time stocks don't always have to go up write it down Roger said adding that stock investors have had many long bear markets and they are going to have another one now Rogers also reiterated his view that the US dollar will lose its dominance stating the Russia Ukraine war has accelerated it the veteran investor described the world's International medium of exchange is supposed to be neutral anybody can do anything they want with it but unfortunately Washington is changing those rules Washington says well if they don't like you you can't use the US dollar and people say wait a minute an international medium of exchange is supposed to be neutral that's not the way it's supposed to work Rogers answered to the question of what he would invest in for the upcoming years and it was pretty straightforward first silver maybe agriculture since silver is a precious metal and cannot be created at a thin air like fear of money it can serve as a store of value it goes without saying that gold serves the same purpose but Rogers currently prefers the gray metal Silver is down something like 70 or 80 from its all-time high and gold is 15 below its all-time high he said I will buy both at the right price but at the moment I would prefer silver to gold and just like Peter Schiff Rogers has found the agricultural industry to be a favorite sector and for good reason regardless of how severe the next crashes no one will cut food from their budget plan these days investing in agriculture is also easier to do even if you've got no prior experience with farming if you found this video helpful let a friend know about it and subscribe to see more videos about investing business money management wealth creation passive income and other Financial topics we'll see in the next one
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