Skip to content

Famous investor predicts '100 percent chance of recession' in 2016

Free World Class Education
FREE Catholic Classes
Jim Rogers believes the U.S. will be in recession before the end of the year.

One economist believes there is a 100 percent chance of a recession in the U.S. economy before the end of this year. Jim Rogers of Rogers Holdings made the dire prediction on Bloomberg TV.

Famous bow-tied investor Jim Rogers [not pictured] believes the U.S. economy will go into recession before the end of 2016.

Famous bow-tied investor Jim Rogers [not pictured] believes the U.S. economy will go into recession before the end of 2016.

Highlights

LOS ANGELES, CA (California Network) - Jim Rogers is a famous investor known for speaking on investments and economics. He lives in Singapore, but pays very close attention to the U.S. markets.

During an interview on Bloomberg TV with Guy Johnson, Rogers said there is a 100 percent chance of a recession in the U.S. before the end of the year.


Rogers explained, "It's been seven years, eight years since we had the last recession in the U.S., and normally, historically we have them every four to seven years for whatever reason-at least we always have. It doesn't have to happen in four to seven years, but look at the debt, the debt is staggering."

Although Rogers did not explain what would trigger this recession, he was confident that the numbers supported his claim.

"If you look at the ... payroll tax figures, you see they're already flat. Don't pay attention to the government numbers, pay attention to the real numbers," he admonished.

Wall Street seems more optimistic about the chances of recession, with most analysts pegging the chance of recession before the end of the year at 1 in 3 or lower.

Still, the U.S. economy seems overdue for a recession, debt is rising, and wages are flat.

Other countries, such as China and the European Union, are struggling to keep their economies out of recession as fiscal disaster looms.

The bad news isn't that a recession could be imminent, but that the Federal Reserve is maintaining very low interest rates. Typically, the Fed will lower interest rates during a recession to get people borrowing and spending again, which provides an economic boost. But without the ability to cut interest rates, the Federal Reserve is almost out of ammunition to fight a recession.

---

The California Network is the Next Wave in delivery of information and entertainment on pop culture, social trends, lifestyle, entertainment, news, politics and economics. We are hyper-focused on one audience, YOU, the connected generation. JOIN US AS WE REDEFINE AND REVOLUTIONIZE THE EVER-CHANGING MEDIA LANDSCAPE.


Comments


More Business & Economics

Profits & Politics over People, why California is paying more to sit in the dark Watch

Image of Millions of Californians will be impacted by blackouts today, including millions who cannot work or attend school in affected areas.

Californians pay a lot for electricity. According to one website, Californians pay the 8th highest rate in the nation, at an average of ... continue reading


Judgment reached in Knights of Columbus contract lawsuit Watch

Image of Knights of Columbus

A federal jury concluded Thursday that the Knights of Columbus breached a verbal contract with a technology company that hoped to become a ... continue reading



What does a just economy look like? One bishop reflects Watch

Image of Economy

The head of the U.S. bishops' Committee on Domestic Justice and Human Development called on Catholics to reflect this Labor Day on Catholic ... continue reading


Why organized labor is (still) a Catholic cause Watch

Image of Labor movement

At a time when labor unions are weak, Catholics still have a place in the labor movement, said a priest who emphasized the Church's ... continue reading


Businesses beware! The IRS will tax robots too Watch

Image of A popular meme suggests rising wages are the cause of automation, but in reality automation is inevitable.

Businesses looking to robots to automate labor might have to think again, the IRS wants a cut.  LOS ANGELES, CA (California Network) - ... continue reading


Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Catholic Online Logo

Copyright 2019 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2019 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.

Catholic Online is a Project of Your Catholic Voice Foundation, a Not-for-Profit Corporation. Your Catholic Voice Foundation has been granted a recognition of tax exemption under Section 501(c)(3) of the Internal Revenue Code. Federal Tax Identification Number: 81-0596847. Your gift is tax-deductible as allowed by law.