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Have U.S. consumers already seen Jim Rogers’ “hard landing?”

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Household net worth fell by 4% in the most recent quarter to $57.4 trillion, the lowest level since the Lehman Brothers bankruptcy in September 2008. Even more ominous: this is the second consecutive quarter that it declined.For Americans, home equity is the biggest source of wealth. With real estate prices soft at best, there is a natural hesitation to invest more or take other steps to create wealth.

"Going forward, you're going to see these ups and downs; the era of volatility is back. There's greater uncertainty among consumers," says Gregory Daco, the principal U.S. economist at IHS Global Insight.

As detailed in a previous article on www.emergingmoney.com , legendary investor Jim Rogers claims that there is a "100% chance" of a new financial crisis and that will be worse than in 2008.

He predicts a "hard landing" for the United States. As a result, Jim Rogers is short American and European stocks and long commodities.

Is Rogers right? Or is this another case of those "ups and downs" that Daco mentioned?

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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