The American stock market has been worse than the Chinese stock market. The Chinese stock market in 2015 was one of the best stock markets in the world. The American stock market was down last year. So it started in America and in Europe and China is catching up and its catching up in a big, big way.
My basic point is we have had a lot of excesses in the last 7 years, we have not had any major decline in the American stock market, we had staggering amounts of money printed, huge amounts of debt built up and we are now paying the price. Do not blame it on China. If you want to blame it on someone, blame it on the Federal Reserve. The problems are now hitting us and it is going to get worse.
Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several investing books and also a renowned financial commentator worldwide famous for his contrarian views on financial markets.
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