Legendary economist warns: U.S. recession is almost unavoidable; U.S. stocks may plummet 30%

Golden Finance reports that on May 7th, legendary economist and former Merrill Lynch chief strategist Gary Shilling believes that almost nothing can prevent the U.S. economy from falling into a recession this year. Shilling recently gave a pessimistic outlook on the market and economic prospects in an interview with Business Insider. In his view, given the ongoing vulnerabilities across multiple sectors of the U.S. economy, a recession this year is almost inevitable. He also predicts that as valuations soar to dizzying levels, U.S. stocks could experience a significant correction. Shilling stated that he believes the S&P 500 could ultimately fall by as much as 30%, with bear market declines possibly arriving before the end of the year. (Dongxin News)