From Yahoo Finance:
The EU and euro may not exist in five years, warns legendary investor
The UK's decision to leave the European Union will lead to an economic crisis more severe than what the world faced in 2008, according to legendary investor Jim Rogers, chairman of Rogers Holdings.
“This is going to be worse than any bear market you’ve seen in your lifetime,” he said on Yahoo Finance’s “Market Movers” program Monday. “2008 was bad because of debt. The debt all over the world is much, much higher now. Stocks in the US, for instance, have been going sideways for 18 months to 24 months. That’s called a distribution by many people. When you have distribution for a year and a half, it usually leads to bad things.”Rogers — who cofounded the Quantum Fund with George Soros in the 1970s — believes the “leave” movement’s victory last week may threaten the British union. While any negotiated deal may help assuage the market’s Brexit fears, Rogers foresees a “bad case scenario” where Scotland and Northern Ireland leave the UK and London’s clout diminishes significantly as financial institutions move towards continental Europe.“The UK already has huge international debts and it has balance of trade problems and budget problems,” he said. “The bear case is the pound disappears. England becomes Spain or Poland or Italy or something.”While he doesn’t see an immediate collapse of England’s economy, Rogers anticipates a long-term decline in the country’s prospects.“The deterioration will continue and make stocks go down a lot,” he warned....MORE
That's technical talk for 'make stocks go down a lot'.
*Back to the living/dead line. We've used it a few times, not so much the variant ascribed to Khrushchev and nuclear war but rather, in pirate talk:
...And employees who broke their backs for these startups would realize just a how demoralizing the process can be.But those are the lucky ones....MOREAarrgh, them with the broken backs be the lucky ones and the living will envy the dead....
Having a strange attraction to the piratical (Climateer was a mashup of climate and buccaneer/profiteer/have aIf now-concerned reader had asked why I went with the pirate "living/dead" thing I couldn't have explained to save my life but it turns out there was a reason. From WikiQuote:
beergrog) we have collected pirate tales since the blog's early days.
It all began with the official International Talk Like A Pirate Day website and went downhill from there.
They now have an international singalong (some quite creative) that I like to introduce with:
"There! That's what I think of ye. Before an hour's out, I'll stove in your old block house like a rum puncheon. Laugh, by thunder, laugh! Before an hour's out, ye'll laugh upon the other side. Them that die'll be the lucky ones...
- The living will envy the dead.
- The attribution of this widely quoted remark about nuclear war to Khrushchev is disputed in Respectfully Quoted : A Dictionary of Quotations (1989).
- In Russia this quote is usually attributed to the translation of Treasure Island by Nikolay Chukovsky: "А те из вас, кто останется в живых, позавидуют мертвым!" ("Those of you who will stay alive will envy the dead", originally: "Them that die'll be the lucky ones").