Tuesday, August 03, 2010

Jim Rogers on double dip recession; Greenspan weighs in

Jim Rogers is predicting a new recession in 2012. So sayeth the Telegraph in a brief overview of his recent comments to CNBC:

"Mr Rogers, the respected currency trader and hedge fund pioneer, cautioned that when the downturn takes hold "the world is going to be in worse shape because the world has shot all its bullets."

Speaking in an interview with business television channel CNBC, the septuagenarian investor said that "since the beginning of time" there has been a recession every four-to-six years, and that's mean another one is due around 2012..."

Telegraph reporter James Quinn goes on to add that noted academic & Case-Shiller index co-creator, Robert Shiller is also expecting a double-dip recession, and that it may come sooner.

This follows David Rosenberg's recent call of an increased likelihood for a double-dip recession based on the latest drop in the ECRI WLI (economic leading indicators).

Meanwhile, Sir Alan weighs in via the most read finance piece on the Telegraph website: "Alan Greenspan is making UK weatherman Michael Fish look like a good forecaster".

Never underestimate the power of a really good headline.