The trillion dollar bailout will not end well.
Investor Jim Rogers, chairman of Rogers Holdings, recently warned in an interview that recent central bank bailouts will bring about the worst economic meltdown in his lifetime.
Central banks globally are printing trillions of dollars in an effort to help countries stimulate their respective economies. Although the S&P 500 has gone up 50% and has shown no signs of slowing down since March 23, Rogers believes that the bailout plan is not going to end well in the long term.
In fact, Rogers thinks the US market is a bubble that is “waiting to end”:
“Remember there is an election in the US in six months in November and all those guys want to get re-elected. They do not care about you and me and our kids. They care about November and getting re-elected. So, all sorts of good things will keep happening and the markets will be ok for a while…”
Rogers revealed that he owns gold, silver, and is still confident in agriculture. He also said he would bet on transportation, airlines, tourism, and other industries which have been severely affected by the pandemic:
“I bought a shipping company in Russia last week, and a wine company in China last week. Some of these things have been really beaten down and probably even if the bear market hits again, they are probably not going to go down much I hope.”
In a previous interview, Rogers said that he wished he had invested in Bitcoin during the technology’s early days. Anthony Pompliano recently predicted that the market capitalization of Bitcoin will surpass gold in less than 10 years.