(From The Finaincial Express)
Jim Rogers said, “We’ve had economic problems in the US, in North America, every four years since the beginning of the republic, to say that we’re going to have a problem is not unusual.” Going a step further, the veteran said that it would be ‘bizarre’ if we didn’t have a problem. Rogers observed that the 2008 financial crisis was caused due to a rise in debt, and since then the debt has gone through the roof. In fact, Alberto Gallo of Algebris Investments, in a recent blog, noted that global debt levels have almost quadrupled, rising 276% in the last decade to $217 trillion. Talking about the timeline, Jim Rogers predicts that the impending crisis could be as early as next year.