Investment guru Jim Rogers believes another recession will be due in about 2012, but the difference next time will be the inability of central banks to throw cash at the problem.
Rogers, who started the pioneering Quantum fund with George Soros in 1970, says there has always been a recession every four to six years in the US "since the beginning of time". "When the next one comes the world is going to be in worse shape because the world has shot all its bullets," he told CNBC. "Is Mr Bernanke going to print more money than he already has? No, the world would run out of trees." While second-quarter earnings have largely been better than expected, Rogers says this does not necessarily mean the recovery is stronger than anticipated. "I am sure some of it is...
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