Daily Reckoning
Global bond manager Pacific Investment Management Co. (Pimco) sees a 60% chance of global recession within three to five years.
“The global economy,” says Pimco analyst Saumil Parikh, “experiences a recession every six years or so.” The last certified global recession was four years ago.
Vancouver veteran Dr. Marc Faber went on record last year saying he believed the chance of a global recession in 2013 was “100%.”
Last week, Faber told CNBC that recent Dow highs were “not to be trusted.” Jim Rogers, another Vancouver alum, with whom we just recorded the Zero Hour scenario has also been forecasting a recession. “You should be very worried about 2013-2014” Rogers warns…
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