Jim Rogers Says The Chance of Recession This Year is 100% - Fortune
During an interview on Bloomberg TV with Guy Johnson, the famous investor said that there was a 100 percent probability that the U.S. economy would be in a downturn within one year.
"It's been seven years, eight years since we had the last recession in the U.S., and normally, historically we have them every four to seven years for whatever reason—at least we always have," he said. "It doesn't have to happen in four to seven years, but look at the debt, the debt is staggering."
Most Wall Street economists see a much smaller chance of a U.S. recession within this span, with odds typically below 33 percent.
Forget the good jobs numbers.
Jim Rogers doesn’t buy the hype.
Markets may be recovering from their mid-winter malaise, but the famed investor—who made his fortune working for George Soros more than years ago—thinks its only a matter of time before the crash.
In an interview Thursday with Bloomberg TV, Rogers said that he thinks that there is a “100% chance” that the U.S. would enter a recession within a year, arguing that central banks around the world are papering over profound economic weakness with ineffective monetary stimulus.