Legendary economist warns: US recession almost inevitable, US stocks could plunge by 30%

Glonghui, May 7th｜Legendary economist and former Merrill Lynch chief strategist Gary Shilling believes that almost nothing can prevent the US economy from falling into a recession this year. In a recent interview with Business Insider, Shilling expressed a pessimistic outlook on the market and economic prospects. In his view, given the persistent vulnerabilities in multiple sectors of the US economy, a recession in the US this year is almost inevitable. He also predicts that with valuations soaring to dizzying heights, US stocks could see a sharp adjustment. Shilling stated that he believes the S&P 500 Index could ultimately fall by as much as 30%, with a bear market-level decline possibly arriving before the end of the year.