During his recent interview with Business Standard, Jim Rogers explained why before this is over we’re going to have some horrible economic problems everywhere. Here’s an excerpt from the interview:
Rogers: Well it’s happened throughout history, all over the world.
When there’s a long period of prosperity Banks get excited and get confident, and they think they’re smart, and they start making loans that they wouldn’t make otherwise.
That’s what’s happening in the U.S, Silicon Valley Bank is very very excited, they thought they were smart people in Silicon Valley.
Think that they’re very very smart, and many of them are, but they get carried away, they lower their standards, they think everything is okay.
And that has always led to problems all over the world throughout history, and it’s happening again. And don’t worry before this is over we’re going to have some horrible economic problems everywhere.
You can watch the entire discussion here:
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