Jim Rogers, renowned investor, author, and current Chairman of Rogers Holdings, made waves recently after guaranteeing with 100% certainty that a U.S. recession will happen within the next year.
During an interview on Bloomberg TV, Rogers reminded everyone that the world’s biggest economies are in turmoil and that the United States, in particular, is long overdue for a recession.
In fact, according to Rogers, if investors focused on the right data, they’d have proof that the U.S. economy is already faltering.
“If you look at the…payroll tax figures [in the U.S.], you see they’re already flat,” he said. “Don’t pay attention to the government numbers, pay attention to the real numbers.”
So I did.
I began researching every factor I could think of that’s related to our economy, and I paid real close attention to everything.
In fact, I paid such close attention that within a half hour, my investigation had shifted completely (which I was thrilled about because researching finance crap sucks).
Now I was investigating Jim Rogers himself.
See, while searching for evidence to support an impending recession, I came across Rogers’ name multiple times. Videos, articles, forums – the guy was all over the place preaching the “We’re All Screwed” gospel.
But then I started looking at the dates that these videos and articles were posted and noticed that Rogers has been predicting – inaccurately – the same thing for years.
In July of 2010, he predicted a recession in 2012:
Here he is in June of 2011 doing it again:
Then, in September of 2012, he predicted a 2013 recession:
A month later, he changed his prediction from 2013 to “2013 or 2014”:
In 2013, Rogers kept the pattern going, claiming the U.S. was heading for disaster in 2014 or 2015:
And, of course, we now have Jim Rogers doing Jim Rogers things in March of 2016:
What to make of this?
Well, first off I’m not even a finance nerd and I know that the economy tends to go into a recession every seven or so years.
So, if I went on record every year from 2010 through 2016 claiming we were about to have another one, would Bloomberg want to interview me, too?
Because that’s exactly what Rogers is doing.
He’s sensationalizing an economic fact in order to generate headlines, gain popularity, and make money.
He tosses around some buzzwords, cites his Yale degree, and proceeds to convince people he knows something that they don’t.
Forget your Yale degree, Rogers. I bet you got rejected from Harvard, anyway.
PS: Jim Rogers is totally the “End of the World Guy” in Parks & Rec…