American investor Jim Rogers said that the global economy will face a new crisis that will be worse than the events of 2008, when a financial crisis erupted in the United States amid the collapse of the mortgage market.
The expert added in an interview with the agency “Novosti”: “This time the crisis will be worse than it was in 2008, because the debt is much higher.”
And the American investor pointed out that in the past, the problems in the economy occurred because of the debt, which has now increased “in a very, very large way. And this happened not only in the United States, but everywhere. Even China has debts, as well as Japan. Oh my God, I will not Believe the amount of debt that many countries have accumulated.”
The expert stressed that the US authorities intend to blame other countries for the next recession. “Officials in Washington will never say, ‘Oh, we made a mistake, we’re resigning,'” he said. “No, they’ll say, ‘These foreigners, they take all the blame.'”
Rogers emphasized that major depositors in US banks should exercise caution in the current situation and check the safety and credibility of the banks they deal with.
According to him, “China itself will become the next superpower and will occupy the place of the most important country in the 21st century.”
This article was originally published by RT.
