RANKED: Top 20 automakers by EV battery metal spending
Value of the graphite, lithium, nickel, cobalt and magnesium contained in EV batteries is up 38% from the lows struck in January.
Jim Rogers, famed commodity investor, told Fox News that the next economic slowdown is due in 2012 or 2013, but this time the U.S. won’t have the tools to dig itself out.
“Every four to six years we have had a slow down in the U.S. economy for many many reasons. When the next slow down happens, what are we going to do? We can’t quadruple our debt again. We cannot print staggering amounts of money. So the next slowdown is going to be worse than 2008,” Rogers told Fox News in an interview last week.
The crash in 2008, considered to be the worst since 1930, was countered by the U.S. launching massive stimulative monetary policies and increased spending by the federal government. Since the crash, the Dow Jones has risen from a low of 6,626 to just under 12,000 today.
“The U.S. is in worse shape than Europe. Europe is getting the press because the debts are coming due.”
But Rogers says that a country’s bad underlying data has a way of catching up with it.
“Well six months ago there was not much worry about lending to Europe, and you see what is happening now.”
Rogers co-founded the Quantum Fund with George Soros.
Image is from FDV.
Comments
Ipollard
At last somebody has the wisdom to see that the US is in a far worse state than europe. Hope tghis will be a wake up call tp all US politicians, to look to their own backyard before telling Europe how to manage its affairs.