Jim Rogers Warns "This Will Be The Worst Recession Of My Lifetime" | Business News

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01. it's interesting you mentioned that because we're seeing uh if as you know go crazy uh you know this season you know prices have skyrocketed uh worldwide International Affairs domestic fairs here in India and we're actually seeing the launch of new Airlines here in India as well despite it being such a cost intensive industry so clearly There's Something Brewing there you do you feel this is this is some kind of uh you know Revenge consumerism or a recovery for the last two years or is this the beginning of an altogether new trend when it comes to the travel and tourism sector well you know it's it's both it's both it's certainly the recovery you know things are so bad and suddenly people want to travel and there are not many seats not many employees not many Pilots so yes that's part of what's going on now but it will lead to a basic change in the airline industry because people have not been buying a lot of planes in the last few years because of the epidemic for other reasons but then exacerbated by the by the epidemic so what who knows but I expect to find great opportunities in International Airlines before this is over okay I'm on gold until on precious metals uh Jim what's the kind of price Target you're looking at or the kind of upside Apple please watch BT I mean you guys know I am terrible at markets I mean I'm the worst Market timer in the world I usually try to let the market tell me if and when I see silver really collapsing more than it is now or gold I hope I'm smart enough to buy more gold and silver if I were buying today I would buy silver so it was down much more so it was down 70 percent from its all-time high gold is down 15 from its all-time high those are rough numbers but no I would be buying silver today if I were buying either but I'm not buying either yet I'm waiting to see a time when there's real Despair and then I hope I'm smart enough to buy more of both so what happens to you know currencies at a time like this uh what's your view on the dollar uh we're seeing this a tremendous ShakeOut and the impact it's having across currency especially here in Emerging Markets well I own a lot of US dollars I told you last time the reason I I mean the US dollars are terribly flawed currency America is the largest generation in the history of the world it's getting worse every day so now you're going to say like a good report you're gonna be why do you want dollars in what's wrong with you uh I own them because when people when there's turmoil people look for a safe haven people think the US dollar is a safe haven for historic reasons the US dollar is going to get overpriced it could turn into a bubble too I hope I'm smart enough that when that happens to to sell my US Dollars and your next question should be well what are you going to do with the money then and I don't know yet I wish I did I will watch I will watch apple on DJ some more to find out what to do with it I don't know you know theoretically it would you would it would be the Chinese currency because it's so big but the Chinese currencies are blocked currency I can't to go online and buy and sell it like I can again or the Euro or something so I don't know where I'm going to put my money okay in terms of time so we're looking at you know you've been speaking about it when you were saying the worst Baron are we looking at the end of the year is it it's really around the corner or would you give it six months well this year so far has been one of the worst of the first eight ten months of any American any year in the American side Market has been historically it's been significant that how bad it has been but as I say before it's over I expected to get much much much worse I would see some companies go down 60 70 80 percent some companies will go bankrupt about U.S companies will go bankrupt no this fair market is going to be a mess you're not old enough to remember bear markets and how bad they can be they can be really really devastating and surprising wow so in this ShakeOut is it going to be across the board gym or do you see certain Pockets that will be worse hit tech stocks um you know over leveraged companies girly uh Banks we've been seeing all kinds of uh reports you know at some key institutions where's the ShakeOut going to be no there will be some probably real assets whether agriculture or silver or some some things will do well they always do in Bear markets a few are always a few sectors that that do very well I don't know what they are yet I'm certainly optimistic and watching agriculture on Mission Airlines if they get damaged or the stocks yet hurt more and more you know the Opera one good thing about all this it's good for you because it gives you job security you know you have somebody has to report on all this somebody has to tell us what's going on so it's very good for you and BT it's not good to the rest office but it's good for you and BT well I I do look at India I do a occasionally periodically by Indian shares I don't have any now uh because the market was one of the better markets in the last year or two uh but if India goes down a lot or goes down more than others I'm certainly interested in Indian shares they're all there's some really really smart Indians as you know uh very smart Indians uh you just have to find them some of them moved away but they're smart Indians in India and I will be looking for smart Indians and good companies when things get really bad