Renowned investor Jim Rogers believes the "worst [financial] crash in our lifetime" will happen this year or next, pointing to rising debt levels in the US and China.
In an interview with Business Insider, permabear Rogers said everyone should be "very worried" as the debt problem in 2008 was "nothing" compared to the current global economic backdrop. Rogers pointed to the Federal Reserve running a balance sheet five times the size it had in 2008, while China, which "had a lot of money saved for a rainy day" in the run-up to the global financial crisis, now also has ballooning debt. In terms of what would spark the crash, Rogers said it would start somewhere investors are not expecting, using the example of when Iceland went broke during the global...
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