Things could well take a turn for the worse in the economy next year and the year after, says renowned investor Jim Rogers.
“We can’t avoid recession,” he tells Yahoo.
“Every four to six years since the beginning of the republic we’ve had a slowdown. It’s going to happen again. Do you think we’ve abolished recessions?”
Editor's Note: Prophetic Economist Warns: “It’s Curtains for America.” See Evidence.
The last recession officially began in December 2007 and ended in June 2009. The economy grew 1.3 percent in this year’s second quarter.
“For 2013-14, you should be very worried and you should prepare yourself,” Rogers says.
And how should you prepare as an investor?
Rogers himself owns gold. “And I own more agriculture than gold,” he says. “Few parts of the world economy will boom over the next few years, but agriculture will be one of them.”
If he had to invest in one thing today, Rogers says it would be agriculture.
He sees no good option in the presidential race. “These are the guys who got us into this problem,” Rogers says. “So why does anyone think they’ll get us out?”
As for the economy, at least one prominent economist, Economic Cycle Research Institute’s Lakshman Achuthan, thinks it already has entered recession.
The fact that gross domestic product numbers are still positive doesn’t speak against that, he tells Bloomberg. Prior to the financial meltdown in September 2008, GDP rose 1 percent in the first quarter and 3.3 percent in the second quarter, Achuthan notes.
So look out below, he says.
Editor's Note: Prophetic Economist Warns: “It’s Curtains for America.” See Evidence.
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