Wall Street has been doing well for months now, but there are some people warning that tough times are ahead; tougher than you might even imagine.
And the man making that prediction is legendary investor Jim Rogers, who told KTRH we aren't talking about a small crash. We're talking about a huge one.
“It’s going to be the worst in our lifetime. The debt that caused the problem in 2008 is much, much, much higher now. I don’t see many countries that can bail us out on the horizon,” Rogers explained.
So what are the signs to look for? Houston financial planner Richard Rosso says start with interest rates.
“If they start to go up, that would do it. If the President doesn’t get through what he wants, that would be a catalyst. We have many catalysts out there,” Rosso said.
So we asked Rogers if there was any way to stop this from happening.
“Nothing I know of, unless you know Mother Theresa or somebody that can pull off a miracle,” Rogers stated.
And as for when this could happen, Rogers thinks it could start later this year or in 2018.