Jim Rogers says the United States’ hefty debt load will make the coming recession worse than the 2008 downturn. The Fed is only making the situation worse, he says.
“The 2008 slowdown was worse than 2002 slowdown because the debt was high,” Rogers says. “Next time, the debt’s going to be up there (gestures) and it’s going to be much worse.”
And in response to a question about what the Fed should do next, Rogers says, “They should all abolish the Fed and resign. The Fed is making the world much worse and making the United States worse.”