Jim Rogers Forecast a Global Depression

Mar 16, 2007 09:06

Commodities investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros in the 1970s, is selling his "mansion on Manhattan's Upper West Side on the market and is planning to move to Asia."

That is how bad he expects the US to become.

"Real estate prices will go down 40-50 percent in bubble areas. There will be massive defaults. This time it'll be worse because we haven't had this kind of speculative buying in U.S. history."

This is not new but seems to bring the time frame closer. We wrote previously that the US is unstable and that the expected liquidity crisis will at first shut down government, causing the usual "emergency" reaction in the lords of government that will cause them to brutally turn against US citizens.

The expected divisions are: break away states and constitutionalists, feds, and a unity coalition of Muslims, leftists, and Mexicans. The result would be the Civil War III previously written about.

If you cannot expatriate, then John Galt's recent warning was to buy whatever supplies you need to survive--now. As much as you can afford.

http://www.reuters.com/articlePrint?articleId=USL1470530620070314
http://www.stevequayle.com/index1.html