Monday, September 17, 2012

Recession 2013 Is On the Way; Here's What Jim Rogers Is Doing

Recession 2013 Is On the Way; Here's What Jim Rogers Is Doingf legendary investor Jim Rogers is right, not only is Recession 2013 unavoidable, it's going to be a doozy.
In recent interviews, Rogers has been predicting a 2013 recession, bowled over by a potential blowout in Europe and unsustainable spending by the U.S. government.
"Be very worried about 2013 and be very worried about 2014, because that's when the next slowdown comes," Rogers told Reuters.
And while Rogers sees no true safe havens out there, a few investments can provide some comfort – specifically, commodities in the form of agriculture, gold, and silver.
Rogers' statements usually get lots of attention, mainly because he has an uncanny tendency to be right.
Together with George Soros, he founded the Quantum Fund in the 1970s and posted returns of 4,200% over 10 years. Rogers retired in 1980 at the age of 37, but remains active as a private investor.
Back in 1999, Rogers recommended gold when it was trading at $252 and silver at $4.
We all know what happened after that.
Here's the Jim Rogers take on the economy and how to survive Recession 2013.
Elections Will End Good Times
Rogers sees the coming elections as the end of a joy ride for both Europe and the United States.
"President Obama wants to get reelected. German Chancellor Angela Merkel wants to get reelected," Rogers said. That means they'll both be spending lots of public money to keep voters happy until the elections are over.
The ECB's controversial decision to purchase unlimited quantities of bonds from struggling Eurozone members indicates Merkel is ready to pull out all the stops to save the euro – and her job.
In fact, Merkel has made a sharp about face and now wants to stop Athens from leaving the Eurozone at all costs.

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