Jim Rogers shared his opinion on the current economic situation of America & the world and claimed that a big downfall is coming for all money markets.
After the end of the first wave of the COVID-19 pandemic, the majority of the countries saw a downfall in their economy. Under the bad conditions, the American Central Bank printed huge numbers of money supply but the whole thing resulted in very high inflation in the country and also the impact spread to other US economy-linked countries.
Recently Veteran American investor Jim Rogers appeared in a new interview with Real Vision Finance. In the interview, Roger said that the next bear phase of all money markets (crypto, stock, bond, etc) will be worse over the last 80 years.
According to Roger, the current economic situation is much similar to the economic crisis of 2008 but the current setup is far worse.
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“I know we’re going to have the largest bear market, the biggest bear market in my lifetime. In 2008 we had a big bear market because of too much debt…look out the window, since 2008 the debt everywhere has skyrocketed. Gigantic increases in debt,” Roger said.00
Furthermore, Roger noted that debt pressure on the American economy surged to an all-time high in the last 14 years and this is showing that the next bear market season will be worse in his life.
Here this is not only Roger, who thinks that the next bear phase will be very big. Already many financial experts shared their opinion on this situation & confirmed that crypto, stock & all other markets will face a big downfall.
Reportedly legendary stock Investor Warren Buffett cashed from the stock market Investment in billions & now he is waiting for the next big downfall of the market.
Several crypto market experts noted that if the stock market will face a downfall then in that situation the crypto market will also face a high downfall and people need to understand that it will be an opportunity to buy Bitcoin & Ethereum like flagship crypto assets at high discounted prices, so be ready instead getting into panic.
Read also: Japan announces new Crypto friendly tax policy
Veteran American investor says next bear phase will be worse
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