NEW YORK (Commodity Online): The 2008 economic crisis will be a piece of cake when compared to what awaits the US economy in 2012-13, believes market guru and investment expert Jim Rogers. US is now hiding behind the European problems but when you dig deeper, the US economy looks far inferior to Europe.
“We still have serious problems throughout the world. The U.S. is in fact in worse shape than Europe. Europe is getting the press these days because the debts are coming due but America is the largest debtor nation in the history of the world. The next time we have an economic slowdown it will be terrible. And it will be sooner than we all had hoped. I would expect it to be around 2012 or 2013,” Rogers said in a Fox Business interview
“Every 4-6 years throughout history we've had an economic slowdown, so it will happen in 2012 or 2013. And we will be in even more debt! We are overdue”, he added
He also warned about potential problems facing the agriculture industry in the next 10 years arguing that the average age of farmers in America is 58, Japan 66 and Australia 56!
So who's going to farm in the next 10 years? We have to wait and watch
