Jim Rogers - The Worst Bear Market of Our Lifetime is Nearing Fast

Jim Rogers - The Worst Bear Market of Our Lifetime is Nearing Fast

Jim Rogers: The Worst Bear Market of Our Lifetime is Nearing Fast

In this video, Jim Rogers laments how governments across the world engage in excess borrowing and spending. Here is the summary of the content:

Nearly every government and every central bank in the world has been printing, spending, and borrowing huge amounts of money. This has never happened like this in the history of the world. This excess has caused many markets to go up. If you want to invest and you have a lot of money floating around, you just go online and in five seconds, you can invest in anything you want to. And that's what has been happening.

The Chinese seem to be cutting back. But the US is spending a huge amount of money. So, excessive money is going to the markets and the real economy as well. The bad news is that these things always end badly.

All these calls for concerns. The bond market has never been this expensive in the history of the world. Property in many countries such as Korea, New Zealand, is in a bubble. Stocks go up every day. But commodity is the only cheap asset. While sugar is down 60%, sugar is down 70% from it's all-time high. But with all the money being printed, one of the most advisable asset classes at the moment is commodities because they are cheap when everything is booming.

Since the beginning of the COVID-19 pandemic, governments around the world have unleashed unbelievable amounts of money that most people could not have conceived of. But it's going to end badly. When it ends, we're going to have the worst bear market in our lifetime. Every country, including China, is indebted. China, which wasn't indebted 20 years ago, saved the world in 2009 when they had some money that they saved for a rainy day. But now, nobody can come to the rescue.

The next generation is going to bear the burden of the borrowings by the present American leadership. Currency collapse will inevitably lead to economic collapse. In 2008 and 2009, America had horrible problems with too many debts. Since then, debts have gone through the roof in unbelievable amounts. This is why everybody should get prepared for the worst.

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