(Bloomberg) Jim Rogers, 75, says the next bear market in stocks will be more catastrophic than any other market downturn that he’s lived through. The veteran investor says that’s because even more debt has accumulated in the global economy since the financial crisis, especially in the U.S. While Rogers isn’t saying that stocks are poised to enter bear territory now — or making any claim to know when they will — he says he’s not surprised that U.S. equities resumed their selloff Thursday and he expects the rout to continue.

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