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welcome to ahead of the curve I'm Michael Nicholas for real vision we're here today with Jim Rogers Jim hello I'm very excited to talk to you today Oh Michael I'm delighted to be here and I'm excited to talk to you I'm a fan of real vision and I'm sure I'm a fan of you too well what do you think's happening in the world I know you've been worrying about a big crash and about things going wrong I don't think you ever expected the coronavirus hitting the world and everything stopping and thing so how do you think's how do you think things move from here on well what I have said in the past is that the next time we have a bear market is going to be the worst in my lifetime with the simple explanation that in 2008 we had a problem because of too much depth and over the last 10 or 12 years the data skyrocketed everywhere so the next one has to be worse than the last one I thought it was a simple statement I didn't think anybody would notice but they have you know it had been over 10 years since America I'll use America as America you had a bear market and there towards the end things were going up every day I mean it was a little bit of a blow-off there there at the end of between like November and February say in the more and US mark you made an all time on so it was time it was time I certainly didn't know it was gonna be the virus whatever the cause we would have had there's always a cause when it's time for a bear market and this time it happened to be a virus and and other things too the main problem if you ask me is the staggering amount of debt which has been built up since 2008 and my god Michael I don't know how old your but this is really gonna be a disaster for most young people I the thing is the dent is gonna go even higher now is going already the other nation in the history of the world like them and just in two weeks my god trillions and trillions with a tea you know they borrowed trillions more they are borrowing trillions more they're printing trillions more thank God I mean these guys you know there's an election in November they don't care about you Michael they don't care about my kids they don't care about me they care about November and but unfortunately it's gonna leave all of us with a very very serious problem so what do you think happens to another level the central bank's by over there Michael there's no like there's an election yeah what's wrong with you I know you want real vision yes an election they have one thing they don't care about you they don't care about my kids they care about the election and the stock market now obviously we've seen the stock market doing pretty well it fell like 30 percent and then driving since then and some argue that it could go to to to new highs given the liquidity and the money that's being pumped into the system but there's a big disconnect in the real economy and the markets when you have twenty million as you probably saw pending million unemployed in the US only these people are gonna go and vote but they need a job to be happy I guess and that's why these guys are gonna find more money to spend you know they know everything you just said they watch real vision and so they know what they have to do to get reelected again this is not good for anybody you
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