Jim Rogers "Crisis Is Worse Than 2008"
"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 told CNBC.
Perhaps most concerning is the fact that Rogers thinks that the next crisis will be far worse than 2008 because the debt levels are much higher.
"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," Rogers said.
"In 2002 it was bad, in 2008 it was worse and 2012 or 2013 is going to be worse still – be careful," Rogers said.