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Jim Rogers: Trade War a “Disaster”, Will End US Reign as World Leader

Bloomberg  ( Original )
MAR 21, 2018

While Jim Rogers will never be mistaken for a starry-eyed optimist, he is especially not a fan of the Trump trade wars. How little does he think of what most view as an incredibly shortsighted and pointless, though certainly less than dire, exercise? He thinks it will end the US’s reign as dominant world power.

Veteran investor Jim Rogers is already predicting the worst bear market for stocks in his lifetime. And that’s before you figure in a trade war.

“The next bear market is going to be the worst in my lifetime -- just because of the debt -- but if we also have a trade war, it’s going to be worse than a disaster,” Rogers, the 75-year-old chairman of Rogers Holdings Inc., said in a Moscow interview. “I’m extremely concerned. I’ve read enough history and been through enough markets to know that trade wars are usually a disaster.”

“You think the Chinese are just sitting around?” Rogers said. “China’s a huge buyer of American agriculture, so of course that’s the obvious place to hit back because that hurts Mr. Trump the worst. It’s not Americans, it’s Trump. Trump and his guys, those are the ones they have to hit.”

“I’d rather invest in Russia than in Germany, I’d rather invest in Japan or China than in America,” Rogers said. “America is at an all-time high, and no other nation in the history of the world has ever been this in debt.”

ORIGINAL SOURCE: Jim Rogers Says Trade War Is Making His Bearish View Even Darker by Ksenia Galouchko at Bloomberg on 3/21/18