Thursday, November 8, 2012

Jim Rogers: Obama's Economic Disaster to get Worse

Now that Barack Obama has been re-elected President of the United States, billionaire commodity expert and investor Jim Rogers sees his disastrous economic policies as not only continuing, but making things much worse for Americans and the world in general.

More deficit spending means more economic problems for the United States asserts Rogers, who also says the global markets have probably already discounted the eventuality of a fiscal crisis in America.

Rogers has consistently stated that in 2013 and 2014 it's going to be very rough years for the United States economically.

"America is going to have a slowdown in 2013-14, there will be fewer jobs, more unemployment and turmoil in oil and currency markets," Rogers said.

Even so, Rogers says there is little doubt the so-called fiscal cliff in the country will get a quick fix by politicians, but in the end it'll make things even worse.

When queried about a possible downgrade of the economy of the United States, Rogers said it should have already been done in the minds of investors. "If you haven't downgraded America in your mind, you may do so," he concluded.

He sees no change in the practices of the Federal Reserve either, where he expects printing money out of thin air to continue as it has been.

Rogers sees hard assets as the place to be over the next ten years, with gold prices expected to continue to soar.

Along with his recommendation that investors get into agriculture, he also suggests metals as another strong place to put your money.

He has put his money where is mouth is, recently buying up agricultural land in Australia.

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