International investor Jim Rogers said he is bracing for global market turmoil despite President Donald Trump planning some "great" things for the United States.
“So far he’s said some good things,” Rogers told the Fox Business Network. “He said he’s going to cut taxes, he says he’s cutting regulations, he says he’s going to build infrastructure—all of that is great,” he said.
However, Rogers said he’s “long” on the dollar based on his view that Trump could potentially start a trade war and create chaos in the financial markets.
“I am long on the dollar because I expect turmoil in world financial markets and people are looking for a safe haven,” he said. “It’s going to get overpriced; it might even turn into a bubble.”
But other respected icons have more faith in our new president's strategy to truly "Make America Great Again."
Veteran financial guru and former Ronald Reagan adviser Larry Kudlow told Newsmax TV that the bull stock market raging since Trump’s victory is far from over.
“I'd stay with the Trump bull market,” he told “America Talks Live."
“But remember this, behind the Trump bull market is an unexpected surge in corporate profits, which is the mother's milk of stocks,” the Newsmax Finance Insider told host Steve Malzberg.
" I think the foundation from rising profits is great and I think the expectations of Trump getting his pro-growth tax cut plan is great," Kudlow told Newsmax TV.
Major Wall Street indexes have rallied to record levels since the election of Trump as U.S. president, boosted by pledges of tax reforms, reduced regulations and increased infrastructure spending, Reuters reported.
The benchmark S&P 500 has surged 10 percent since Trump's Nov. 8 election, with optimism running high over the Republican administration's domestic proposals, including plans to reform taxes paid by businesses.
But there have been few specifics so far, and some investors believe Trump may need to provide more than just generalities when he gives his first major presidential address on Tuesday to Congress.
(Newsmax wire services contributed to this report).
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