Jim Rogers Predicts ‘A Canned Goods Kind Of Time’ In The Next Few Years

In our present discussion of money/investing matters on Survival And Prosperity I’ve already brought up one “crash prophet” this week in Jeremy Grantham. Today, I want to talk about another “prophet”- investor, author, and financial commentator Jim Rogers.

The former investing partner of George Soros in the legendary Quantum Fund is not as optimistic about the U.S. stock market as his British colleague. Rogers sat down with Pete Sweeney, Asia Editor of Reuters BREAKINGVIEWS, and issued the following warning in a November 22 podcast. From their exchange:

REUTERS: You’ve been predicting of late a big market crash to come. Now, as we have markets hitting new highs every minute it seems and people are shorting volatility indexes apparently. I just want to move us forward a little bit. Let’s assume it does happen next year. Let’s assume all this crazy happiness evaporates in a big disaster. What do you think the strategy is for positioning in terms of assets, regions?
ROGERS: Look, let me make sure that we have it clear. What I have said was, that we will have a bear market again some day. Now, Janet Yellen, the head of the Federal Reserve in America, says we won’t. She says everything is okay now and there won’t be anymore economic problems. I happen to disagree with her, and I know we will have bear markets again. And what I said was, the next one we have when it comes is going to be the worst in your life- the worst in my lifetime. And I think I’m older than you. The reason for that being, 2008 we had a problem- too much debt. We had a problem. The next time around debt, is so, so, so much higher Pete. In the last nine years debt has skyrocketed. So the next time we have a bear market, it’s going to be the worst in my lifetime. I wish I were smart enough to know when.
REUTERS: I’m just saying, for a hypothetical, because you’ve been watching these asset markets, because I hear people talking about this a lot. The question is, how do you make money off of it? You’re an investor. So you short everything? Do you buy canned goods, ammo, stuff? What looks attractive to you, assuming that you’re bearish on this?
ROGERS: Well, I’m not short. I bought stocks this week in China, in Japan, Zimbabwe, Taiwan. So I see opportunities on the long side in markets. Doesn’t mean I’m right. The bear market maybe start today. No, but I see opportunities. But if you’re worried about that you do need to learn how to sell short. Great fortunes can be made in a bear market selling short. I’m not sure canned goods is the place yet. No, no, don’t laugh, because we’re going to have some time in the next few years a canned goods kind of time. We’re going to have serious, serious problems in the world. I’m not sure canned goods is for the next bear market. But it’s… don’t forget your canned goods.

The commodities “guru” is still bullish on agriculture, suggesting:

If you’re worried about the world, and we are going to have a serious bear market, you should think about agriculture. Because agriculture will probably do well. That is a place that will probably disconnect, to use your term, in the next bear market.

The Chairman of Rogers Holdings and Beeland Interests, Inc. elaborated on his new acquisitions, telling listeners:

I bought Japanese ETFs, Chinese ETFs, Taiwan ETFs, and Zimbabwe, the comparable of ETFs in Zimbabwe.

Finally, Rogers shared the following as the interview came to a close:

I own Japanese shares. Am I going to make money? I don’t know. But my view is, the Japanese stock market may go back to its all-time highs. And that would be a double if it does…

At the moment, I still see reasons to be optimistic in some markets that are still very depressed compared to the ones going through the roof.

Good interview questions and even better replies from the Singapore-based Rogers. You can listen to the entire 13-minute interview on the Reuters BREAKINGVIEWS website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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2 Comments to Jim Rogers Predicts ‘A Canned Goods Kind Of Time’ In The Next Few Years

  1. Be prepared and settle 😉

  2. tetstes on November 29th, 2017
  3. Thanks for the comment tetstes

  4. Editor on November 29th, 2017

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