Jim Rogers is pessimistic about the US economy, and says America will go through a lost decade while the US dollar will lose more ground against the Euro in the long term.
In an interview earlier today with Bloomberg’s news bureau in Turkey (BloombergHT), Rogers said the currency wars are to blame for causing problems in the world economy.
He was initially commenting on the Chinese economy, saying China’s future is very bright but still faces some obstacles. He said China’s resistance to a floating Yuan is causing problems in the world economy.
“There are no winners in trade wars; everybody loses”, he said.
Rogers then moved on to the Japanese and US economies. He said that Japan is still struggling with the same problems it struggled with 20 years, after the 1990 crisis. Rogers was pessimistic about the US economy. He said, “it can be said that America will experience a lost decade”.
Jim Rogers was also pessimistic about the British economy, calling it “in terrible shape”. He wasn’t so sure where gold prices are going, but still predicted gold prices to increase in the next 10 years because of a trend, he says, of investing in gold as an alternative investment.
Jim Rogers rounded off his advice with his take on the Turkish economy, saying, “The Turkish economy is in better shape than are most other economies”. We wonder what he really knows about the Turkish economy, and please, who cares? (See What Bill Ackman confesses in Turkey.)
Source: (Turkish) here
BloombergHT did not provide a video or English transcript of this interview, so we had to translate the interview back to English.
Disclosure: Long Gold