Rogers: Markets Will Tank Any Day Now
Friday, 29 Jan 2010 10:38 AM
By: Julie Crawshaw
Global equities are "vulnerable to correction" after rallying from their March lows and as governments around the world withdraw stimulus measures, says investor Jim Rogers.
"We're overdue for a correction" Rogers says.
"Stock markets around the world have been going up for the past 10 months," he told Bloomberg.
Also, Rogers says central banks need to tighten the money supply further.
“I don’t think anybody has tightened enough. I think everybody should tighten more," he notes.
“We have huge amounts of money printed throughout the world. It’s going to cause currency instability. It’s going to cause more inflation. It’s going to cause higher interest rates.”
The Congressional Budget Office has called the U.S. budget outlook "bleak," in a forecast that hurts the chances for extending Bush-era tax cuts and raises pressure for fiscal belt-tightening, The Wall Street Journal reports.
http://moneynews.com/StreetTalk/jim-rogers-stocks-correction/2010/01/29/id/348399
