Investor Jim Rogers Predicts U.S. Economic Slowdown

Perhaps slow-er down is more accurate


ET Now: But just one quick word for the US businesses as we read a lot of articles which say that there is uncertainty if Barack Obama does come back. Businesses do not like that. Therefore the growth of jobs and businesses in the US will not go up and might go down if he indeed does come back. You second that view?

Jim Rogers: Absolutely. The US is going to have economic slowdown in 2013-2014. So now you are going to see more unemployment or fewer jobs, more turmoil in the currency markets and more turmoil in oil markets. Be worried.

ET Now: Are you pricing in the risk of another downgrade potentially if the unemployment rate continues to rise and proper fix is not brought about to the fiscal situation?

Jim Rogers: You mean a downgrade of America?

ET Now: Yes, a second downgrade.

Jim Rogers: Well, I do not pay too much attention to that and neither you should. The rating agencies are afraid to do much critically because they are already under suspicion from the government. So do not pay any attention to that. If you have downgraded America in your mind, you may do so because America is now the largest debtor nation in the history of the world and it gets going higher and higher everyday.