Rogers looks at the Fed's willingness to add liquidity to an already inflationary environment and sees the history of the 1970s repeating itself. We are probably going to have one of the worst recessions we have had since the Second World War. He is out of control and the Fed is out of control. "Bernanke is printing huge amounts of money. "Conceivably we could have just had recession, hard times, sliding dollar, inflation, etc., but I am afraid it's going to be much worse," he says. "I have been for a while, but I just see things getting much worse this time around than I expected." To Rogers, a longtime Fed critic, Bernanke's decision to ride to the market's rescue with a 75-basis-point cut in the Fed's benchmark rate only a week before its scheduled meeting (at which time they cut it another 50 basis points) is the latest sign that the central bank is not willing to provide the fiscal discipline that he thinks the economy desperately needs. But when I reached him by phone in Singapore the other day there was little hint of celebration in his voice. 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. economy for months and shorting the shares of now-tanking Wall Street investment banks for even longer. After all, the famed investor has been predicting a recession in the U.S. You might expect Jim Rogers to be gloating a little bit. Likewise, when he welcomes the correction in China-related shares it is a good time to be taking a look there. When he says "I just see things getting much worse this time around than I expected," one had best pay attention. A hefty portion of Rogers's fortune comes from predicting megatrends correctly and betting heavily on his predictions. Legendary investor Jim Rogers adds his voice to the chorus of those outright predicting bad things ahead for the late, great U.S. (Especially noteworthy articles’ dates highlighted in gold.)įAMED INVESTOR JIM ROGERS SEES HARD TIMES AHEAD FOR THE UNITED STATES February 2008 Selected Offshore News Clips