I'd Rather Invest in Russia Than the US: Jim Rogers

Jim Rogers would rather invest in Russia than the U.S. stock market.

Jim Rogers
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Jim Rogers

"In 2013 and 2014 we're going to have economic problems, " the noted investor told CNBC's "Closing Bell" on Monday. "Either (politicians are) going to raise taxes or they're going to bungle something."

He added, "Raising taxes has never made the economy grow."

Jim Rogers is shorting U.S. stocks, particularly technology.

"Technology has been one of the few places that is very exploited, " he said.

He is short Microsoft calls and an ETF with Apple in it, he told CNBC.

(Read More: 20 Stocks with the Potential to Drop .)

Rogers is looking at Russia instead. Having been negative on Russia his entire career, Rogers said, "I'm convinced things are changing in Russia for the first time."

But he's still looking for a way to invest, it might be in the stock market it might be in the currency, he said .

In September, Rogers joined Russian investment bank VTB as an advisor to their agricultural division.

Rogers is also short India and isn't investing in China just yet. India is a "complete disaster, " with high inflation and balance of trade problems, according to Rogers.

He also only buys China when it collapses. "And it hasn't collapsed yet, " he said.