Jim Rogers: We’re headed for the worst financial crisis of our lifetimes

Governments worldwide are trying to stop the spread of the Covid-19 virus, which now threatens the global economy. RT talked to legendary investor Jim Rogers about the financial consequences of the outbreak.

Many people are going to suffer very badly, as the effects of this pandemic are going to last for a long time, according to Rogers.

“I told RT earlier that the next time we are going to have a financial problem it’s going to be the worst…” said Rogers, adding that it appears we are headed toward “the worst financial crisis of our lifetimes” and “we will know in a few months.”

According to the legendary investor, lots of industries like airlines and travel are going to suffer. Companies with big debts are especially vulnerable at this time, Rogers explained, and those participating in international trade in particular will have serious problems. “Some of them will be bankrupt,” he said, noting that major airlines and shipping companies will probably be bailed out because it would otherwise be “embarrassing for the countries.”

Talking about the financial markets’ turmoil, Rogers said, that most markets were not ready for the global health crisis and did not know what was coming. However, the reason behind such a mayhem is “not just the virus, it is certainly much more” than that.

Rogers also has a piece of advice for investors, suggesting they invest their money “only in what they know a lot about.”

- Source, Russia Today

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Coronavirus fears continued to move stocks towards the worst week since the financial crisis. What is the key to navigating this sell-off? Joining Daniela Cambone for an exclusive interview is legendary investor Jim Rogers. 

The Dow Jones Industrial Average dropped 900 points, or more than 3%, and traded below 25,000. The S&P 500 slid 2.6% and gold futures were in freefall heading into the weekend, down close to 3.5% on the day, last trading at $1,583.90 an ounce. Rogers comments on where to keep your money safe.

- Source, Kitco News

Coronavirus impact not fully priced in, says Rogers Holdings chairman

"The global financial markets, including India, have been taken aback by the rampant spreading of coronavirus and its possible adverse effects on economic growth. Jim Rogers, chairman of Rogers Holdings, tells Puneet Wadhwa that he is looking to invest in India upon a correction.

He also wants the Indian government to do away with protectionist regulations. Edited excerpts: How do you see the global financial markets play out in the backdrop of coronavirus fears? The virus is slowing down the global economy. Airports, hotels and other public places across the globe have very few ..."

- Source, Business Standard

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- Source