Jim Rogers doesn’t buy the hype.
Markets may be recovering from their mid-winter malaise, but the famed investor—who made his fortune working for George Soros more than years ago—thinks its only a matter of time before the crash.
In an interview Thursday with Bloomberg TV, Rogers said that he thinks that there is a “100% chance” that the U.S. would enter a recession within a year, arguing that central banks around the world are papering over profound economic weakness with ineffective monetary stimulus.
Rogers admits in the interview that he is a “terrible trader” who doesn’t often time markets well, and it should be pointed out that he has been bearish about the economy since at least 2009 when he argued that commodities were undervalued.
Despite his call for a recession in the United States, he actually thinks the dollar will continue to gain strength regardless. That’s because of the widespread perception that the U.S. dollar is the safest asset to keep your money, above the Yen or the Euro. Although Rogers doesn’t believe that the dollar will be a safehaven in the long run, the markets belief that it is, he argues, makes it a money maker in the short run.