Recession coming soon? Jim Rogers says next market crash will be the worst, holds cash

Jim Rogers in an interview with ET Now in early August, has expressed his concerns around a probable recession hitting the markets soon. Rogers, who is a major finance visionary in the West, has talked about an impending market crash that could end up drilling a major hole in the pockets of investors. Here is what the ace investor has said.

Jim Rogers scared of what's coming next

Looking at the future, Rogers is extremely concerned and fearful even though the market trend is currently at a peak, as his predictions suggest that the peaks could come crashing down very soon.

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Rogers is of the opinion that US markets have not seen a major market avalanche since the 2008-09, and therefore something drastic lies ahead, and could hit the markets anytime soon. Since the world's markets are dependent on the United States' market conditions, the entire globe could easily be affected by a sudden major change.

Rogers is hoarding in cash

According to Jim, hoarding cash is the best bet at the moment as the rise in global debt is quite imminent, having already crossed 35 trillion dollars, based on the latest data by the US Department of Treasury. During turbulent times, Rogers feels that keeping cash handy would come to the rescue during desperate times. However, even after hoarding cash, he is not in the mood to put it to use at the moment as he would prefer to wait and watch the market conditions instead, before taking any action.

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Rogers does not want to spend any cash for now as he is of the opinion that he should keep cash in hand for the upcoming market crash, as an intelligent investor, and not act upon it very early.

FAQs:

Could the United States see a market crash soon?
America has no seen a major market crash in more than a decade now, and therefore, chances of a major market crash, and an impending recession could follow soon, suggest reports.

Is USA on the brink of a recession?
There are high chances of a recession in the United States, due to some major factors, including the upcoming US Presidential Elections 2024 being one of them.