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Markets Headed for Disaster in 2013?

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    Rogers Holdings Chairman Jim Rogers on why he has a bearish outlook for the markets.

  • Duration 6:22
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Down Monday for the markets but this next international investors as one day it's not nearly as important as the long term trend and he is predicting a disaster -- speaker Jim Rogers.

Is the chairman.

Of Rogers holdings well we certainly think you're wrong -- I wanna challenger right off the bat -- you always think -- high -- anyway usually turn out to be right I know but.

But even if economic policy changes.

Changed dramatically in the US -- we have an election coming up we may have tax reform in a serious way when rates come down and so forth.

Even if that happens we will go -- -- -- -- personal we have tax increases a substantial tax increase I know they're meant for January 1 but they may not happen if there's a choice okay if you know.

If you know they're not gonna happen we can discuss that too but so far the law is taxes go up January 1.

But second and David we have recessions Fortis every four to six years since the beginning of the republic.

Next year is four to six year -- were overdue they've always happen.

They always happen for different -- is -- maybe you know.

It's different this time -- -- you know my literally August are you gonna go Fox Business the way they haven't they haven't recovery -- that's the -- I'm gonna give it to list but this this hasn't been a recovery what we've had since the big recession well.

And Washington and they say it's a recovery don't you watch Fox Business I don't I -- they tell you it's a recovery the market's been going up the market hit bottom.

They tell you that the recession started in 2007.

Six years from 2007 is 2013.

We've always had one next time it's going to be worse -- Jim what does an investor like you doing to.

They prepare for that -- deal with the weakness that we've seen or at least the volatility that we've seen in the past couple of weeks.

Well one thing that I notice about the market here in the US is that.

Everybody comes out with -- good news and stocks go down and I've been investing a long time and I have noticed they wind good news comes out and stocks go down.

Something's wrong so you better be very word.

I don't know what's wrong but I know -- we had a great first quarter of one of the best first quarter is in history.

And now good news is coming out and stocks are going to -- so I'm coupon.

But I'm short of a few stocks and short I don't know many stocks -- short of -- stocks that were around the world emerging markets for instance.

Its European stocks for instance.

Long commodities and I'm -- currencies which commodities.

-- -- -- -- -- -- -- -- -- -- That's I notice you're talking about go just that only owned gold -- I wouldn't be surprised that they didn't continue to have a big reaction to things going on and in Asia which means that commodities -- Goldman -- can go down for a while.

But I'm not telling my go to story you buying gold when it comes down like it has been -- -- if it goes on a lot David I hope I'm Smart enough to buy at I hope -- sought to buy a lot.

I'm not hedged in my go position right now and I sort of worried about that that may gusher -- but.

Now my own -- ago you said that you're shorting some stocks and some emerging markets which emerging markets are you looking at -- saying that's a problem.

Nearly all of them but especially India communion gifts for some reason they're always -- and India even though India has a 90% debt to GDP ratio which.

I don't know why people don't seem to understand that but the studies show that that's difficult.

After that after that breaking point just to grow very rapidly but you know.

I get some calls about the Euro you have some euros right I do you know -- -- are you -- some people say that it's very overvalued at current levels say -- I'm extremely worried about my -- I wish you -- -- up.

So that's.

A -- not quiet Jim I got today anyway -- hasn't.

Zero pockets and I'm thinking about felt like your growth for goodness thank yeah -- near a bottom well but.

I that -- celebrate patents in the US dollar to him I own the dollar if I sell my euros by the US dollars not because I mean the US.

Terribly flawed currency this but but if the rest of the world goes into more and more turmoil and chaos people rightly are probably will put their money and US dollars I think broadly US dollars terribly flawed.

But I can tell the market what to do right it's your business to figure out what the trade -- -- -- to then make money you talked about agricultural commodities are -- can drill down and give a specific ones.

Well I own them all off I don't know this doesn't want to down the most is what I would look at what is just a play on the fact that we have an emerging middle class in China and everybody's going to start eating three meals a day -- -- -- a lot of things as the let me tell -- we don't have.

Huge problems and agriculture soon.

The average age of farmers in America's 58.

In Japan at 66.

In Australia's 58 hundreds of thousands of Indian -- committing suicide every year that's a horrible has been a horrible business for thirty years.

If prices don't go a lot higher but not -- have any food at any products -- you should become -- agriculture farming cub reporter on fox.

Let's pull back for second look at you -- what you have decided to do with your -- you're living in Singapore right -- you're raising -- two little girls in Singapore.

What is it about Singapore itself.

That is preferable for you of all of the other countries in Asia.

Well I want my children grow up speaking Mandarin and I cannot do that in most countries in in Asia and doing in China China's two polluted it's horribly polluted -- some wonderful -- -- I tried to do -- New York I couldn't do it in New York but this terribly polluted cities and in China so we you know in Singapore everything works great education great -- what are they doing right about investments and the way they grow their economy.

Low taxes no death tax is very low income taxes.

Everybody saves and it has to save and invest huge amounts very low tariffs I'm no tariffs as a matter of fact -- -- -- a lot of things right -- I wish we do some of those things for stocks -- come -- on the sidewalk tolerance well OK you.

There well do you they still indicating that our UK that are in the in Singapore which you -- you can chew gum now.

Anthony.

As well.

Something they got from the British so -- British colony and as you know they're making -- the British used to do with academy non -- Remember all that from reading and you're doing -- -- -- and they're concerned generally get -- dealt.

How difficult but the fact that they have -- -- -- -- -- many times I've out of school I have never OK yeah and -- great to see you thank you guys -- the other day.

They -- about Rogers holdings stopping by it while he's in New York thank --

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