February 5, 2008

'It's going to be much worse'

'It's going to be much worse'

Famed investor Jim Rogers sees hard times ahead for the United States - and a big opportunity looming in China.

NEW YORK (Fortune) -- You might expect Jim Rogers to be gloating a little bit. After all, the famed investor has been predicting a recession in the U.S. economy for months and shorting the shares of now-tanking Wall Street investment banks for even longer. And with fears of a recession sparking both a worldwide market sell-off and emergency action from Federal Reserve chairman Ben Bernanke, Rogers again looks prescient - just as he has over the past few years as the China-driven commodities boom he predicted almost a decade ago began kicked into high gear. But when I reached him by phone in Singapore the other day there was little hint of celebration in his voice. Instead, he took a serious tone. Do Read On...

I hate to say it but, I told yo...nevermind, this isn't the type of thing that it's good to be right about.

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