Yes indeed Jimmy, the US market and markets abroad are in serious trouble… But I think good ole Jimmy may have made a mistake by putting a date on it. With the world central banks printing more money off tax payer’s backs to support the markets and too big to fail banks, there’s no telling when the real story of global financial failure will occur. So as for 2013-2014… That may not be the dooms day date, but please believe the day will be coming, but the only one that know when that day will come is the World Central Banks, as they keep printing, and taxpayer’s bill of debt just keeps growing.
Stock Market News – Worried For 2013-2014?
Unbias Stock Market News -
Earlier this month the International Monetary Fund (IMF) lowered its growth estimate for the global economy to 3.3% and 3.6% for 2012 and 2013 respectively, warning that any revisions to the outlook would likely be lower. Domestically the U.S. economy grew at a tepid 1.3% in the third quarter, revised lower from the initial estimate of 1.7%.
In the third part of Breakout’s interview with Jim Rogers we focused on his economic outlook for the U.S. and what, if anything, investors can learn from the latest Nobel Prize winners for Economics.
Grim Outlook for 2013 & 2014
Rogers regards a U.S. recession in the coming year as all but inevitable. “Every four to six years since the beginning of the Republic we have had slowdowns in America,” he says in the attached video. “It’s always happened and it’s going to happen again.”
For those of you who missed the recovery it’s probably disturbing news that history suggests we’re already due for economic contraction. By many measures (employment, housing, consumer confidence and spending) the U.S. is only now gradually expanding again. The fragility of the gains and the manner in which GDP is all but flat, make it a subtle distinction between where we are now and a mild recession.
Rogers is less sanguine. “2013, 2014 you should be very worried and you should prepare yourself,” he says.
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