Jim Rogers: Recent stock market surge a “Federal Reserve rally”, cannot end well
Over the last few months, in anticipation of the latest round of quantitative easing, the stock market and various commodities (such as gold and silver) have seen their value rise. And now that the Fed has officially announced the launch of QE3 – with $40 billion new U.S. dollars to enter the economy each month for an indefinite period of time – these investments have headed even further north.
Jim Rogers believes that the stock market is due for a correction. Speaking to Larry Kudlow on CNBC, Rogers asserts, “This is a Federal Reserve rally. The money has to go somewhere and it’s going into the stock market and the commodity market.” But when looking at the stock market, Rogers doesn’t see long-term and sustained growth, saying quite succinctly, “It’s going to end terribly.”
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