The US will see a recession by year-end that could spark a 30% drop in the stock market, legendary forecaster Gary Shilling says

Investors should be prepared for a recession with the potential to send the stock market plummeting this year, according to top forecaster Gary Shilling. The Wall Street vet — who was among the investors in the mid-2000s to call the subprime mortgage bubble — said he saw a recession coming by the end of the year...