Be ‘Very Worried’ About U.S. Economy in 2013 and 2014 Says Jim Rogers

From Yahoo Finance:

Earlier this month the International Monetary Fund (IMF) lowered its growth estimate for the global economy to 3.3% and 3.6% for 2012 and 2013 respectively, warning that any revisions to the outlook would likely be lower. Domestically the U.S. economy grew at a tepid 1.3% in the third quarter, revised lower from the initial estimate of 1.7%.

In the third part of Breakout's interview with Jim Rogers we focused on his economic outlook for the U.S. and what, if anything, investors can learn from the latest Nobel Prize winners for Economics.

Grim Outlook for 2013 & 2014
Rogers regards a U.S. recession in the coming year as all but inevitable. "Every four to six years since the beginning of the Republic we have had slowdowns in America," he says in the attached video. "It's always happened and it's going to happen again."

For those of you who missed the recovery it's probably disturbing news that history suggests we're already due for economic contraction. By many measures (employment, housing, consumer confidence and spending) the U.S. is only now gradually expanding again. The fragility of the gains and the manner in which GDP is all but flat, make it a subtle distinction between where we are now and a mild recession.

Rogers is less sanguine. "2013, 2014 you should be very worried and you should prepare yourself," he says....MORE, including video