Jim Rogers: big recession coming
As regular readers of this site know, I’ve long pointed out that recessions hit every 4-6 years. The last one began in Dec. 2007. That’s almost 6 years ago, so we’re due.
Here’s a YouTube of famed investor Jim Rogers. He points out that the 2007-09 recession was so bad because of the massive debt run up from 2001-2007 under the Republican Bush administration and the mostly Republican Congress. By contrast, the 1999-00 recession wasn’t so bad because, it’s hard to remember, we actually had surpluses for two years, thanks to Democratic President Bill Clinton and the Republican Congresses of those days.
As Rogers points out, the next recession will be a doozy because the debt now is much higher even than it was in 2007.
Fed Chairman Bernanke, as Rogers says, has brought us “prosperity” only by printing money and keeping interest rates at 0 percent. Lucky him, he’s leaving office soon and won’t get blamed for the crash (except by guys like Rogers and me).
This deep recession, perhaps a Depression, will hit California’s state and local finances harder than the 2007-09 recession did. We’re going to see more bankruptcies. Instead of increasing spending and insisting California is “back,” Gov. Jerry Brown will be forced to cut spending again.
With Halloween approaching, to quote my Michigan landsman Alice Cooper, “Welcome to my nightmare.”
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Soon the Bernanke/Bush/Obama stimulus-QE party will come to a crashing halt. We are overdue for another economic cliff dive. Yes, this time our debt will be even greater, and our incomes to service the debt will be smaller.
If you think 2007-2010 was ugly you ain’t seen nothin’ yet. THIS NEXT ECONOMIC COLLAPSE WILL START WITH AN ALREADY BANKRUPT, UNEMPLOYED, OVERTAXED, HYPER-REGULATED, FORECLOSED AND NEGATIVE EQUITY COUNTRY.
Governor Clown and his Progressive-Fascist freak show will be running around in circles like decapitated chickens, pointing fingers of blame everywhere else and screaming like desperate soccer mommies who can’t get a refill on their diet pill RX.
I predict the Progressive Enviro-Reich will go full Nazi on us to protect their power and privilege. Will the dull witted, grazing herds of sheeple submit to this? Sure, why not, they’re used to being fleeced. Freedom and independence scares the hell out of the clueless masses of obsequious drones.
Maybe it’s time to do another bunker inventory. Freeze dried foods – check, water – check, guns and ammo – check, shortwave radio – check, Twinkies and Fruit Pies – check, subscription to Survivalist Wacko Review – check …..
lol! “The sky is falling,the sky is falling” !!!!!!!!!! Nothing can be further from the truth!! You bunker dwellers need to come out once in a while and take a look around.
As regular readers of this site know, I’ve long pointed out that recessions hit every 4-6 years. The last one began in Dec. 2007. That’s almost 6 years ago, so we’re due.
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Newsflash John, we never got out of the Great Recession, we’re still in it, have been since 4th Qtr 2007 if you’re part of the 80% of non 1%ers and gov troughers…. we have been down this path since the 1980’s, it is only now bringing the pain
we’re dooooomed I tell ya!!!!!!!!!!!
poor Dysphoric——–sad.
There’s always a “Big Recession Coming” … at some indefinite point in the future. These charlatans are the same kind of fortune tellers that predict an eclipse or the rising of the sun in the East.
Well said. The truth has been avoided by government at all levels, aided by the MSM desperate to keep Dims in office. Unemployment is easily 20% if you count the ones who have given up looking; reliance on government support programs has exploded, despite claims that the economy is recovering; Unemployment insurance was extended to two years and there are calls to make it never ending. The truth doesn’t bend to political posturing and the public is going to suffer horribly for our sins of easy credit, deficit spending as people, and returning the profligate spenders to office term after term.
Randy, you are the ultimate chicken little tea bagging republican!! And people would not have to rely on govt assistance if the greedy corporate pigs would pay a decent wage and benefits! corporate greed along with record profits is what the problem is. Thank god we have gov’t employees keeping the middle class alive!!!!
Oh my the sky is falling! We are broke! there are no jobs! Public pensions are bk the state! Obamacare must be stopped! We need more guns and ammo! No minimum wage increase,screw the people! All these topics and more at the republican get together in Newport.””More than 150 boats ranging from 26 feet to more than 100 feet in length will grace Newport Harbor’s Lido Marina Village through Sunday for the 35th annual Lido Boat Show,The show, now in its 35th year, is geared toward big boats, featuring only watercraft 26 feet and larger including motoryachts, sailboats, sportfishers, long-range trawlers and more”” oh ya, but there’s a huge recession!!!! Lol
like it…nice to see optimism…life has to go on…id rather prep for retirement…not zombie apocalypse