Jim Rogers made a name for himself as one of the sharpest, boldest and most successful traders in the world.
Now, he's saying we have a "100% chance of crisis" that will be worse than what we went through in 2008. In his own words:
"We're certainly going to have more crises coming out of Europe and America; the world is in trouble. The world has been spending staggering amounts of money that it doesn't have for a few decades now, and it's all coming home to roost."
Rogers reasoning is sound, too. As he went on to say:
"Last time, America quadrupled its debt. The system is much more extended now, and America cannot quadruple its debt again. Greece cannot double its debt again. The next time around is going to be much worse ..."
It's simple common sense: You can't go on forever spending more than you make
Yet Washington remains oblivious to the historical fact that no country has ever carried on this kind of unbridled spending without meeting an abrupt and catastrophic end.
"But while the vast majority of Americans will suffer, a select handful will use this crisis to build substantial wealth."
