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Another Bottom for Stocks Coming: Rogers

Posted By admin On May 20, 2009 @ 3:39 am In Money Watch | Comments Disabled

CNBC [1]
Wednesday, May 20, 2009

The stock market may hit new lows this year or the next as the current rally has been largely caused by the money printed by central banks and fundamental problems remain unsolved, legendary investor Jim Rogers told CNBC Wednesday.

His views echo those of renowned bear Marc Faber, who told CNBC last week that the rises in share prices did not mean the world was embarking on a path of sustainable economic growth.

“I’m not buying shares if that’s what you mean. Not at all,” Rogers told “Squawk Box Asia.”

Another Bottom for Stocks Coming: Rogers obama 340x169 [2]

“The bottom will probably come later this year, next year, who knows when,” he added.

Governments have not solved the essential problems that caused the crisis but instead they “flooded the world with money,” according to Rogers. Trying to solve the problem of too much consumption and too much debt with more consumption “defies belief” and will not work, he said.

Full article here [1]


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URLs in this post:

[1] CNBC: http://www.cnbc.com/id/30838800

[2] Image: http://www.prisonplanet.tv/subscribe.html

[3] Rogers Echoes Warning Of “Sucker’s Rally”: http://www.prisonplanet.com/rogers-echoes-warning-of-suckers-rally.html

[4] ‘I Expect a Currency Crisis or Semi-Crisis’: Jim Rogers: http://www.prisonplanet.com/i-expect-a-currency-crisis-or-semi-crisis-jim-rogers.html

[5] Oil at $200, Stocks Can Keep Rallying: Jim Rogers: http://www.prisonplanet.com/oil-at-200-stocks-can-keep-rallying-jim-rogers.html

[6] US Has More Serious Problems Than Europe: Jim Rogers: http://www.prisonplanet.com/us-has-more-serious-problems-than-europe-jim-rogers.html

[7] JIM ROGERS: ‘You Better Run For The Hills’: http://www.prisonplanet.com/jim-rogers-you-better-run-for-the-hills.html

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