The United States will fall into another recession in the next two years, predict two respected economic experts, the prescient hedge fund trader Jim Rogers and the housing sage Robert Schiller. And this time, the world won't have any bullet left to shoot.
Speaking in an interview with business television channel CNBC, the septuagenarian investor said that "since the beginning of time" there has been a recession every four-to-six years, and that's mean another one is due around 2012.
And here's Schiller:
"For me a double-dip is another recession before we've healed from this recession. The probability of that kind of double-dip is more than 50pc. I actually expect it," he said. His prediction came despite the S&P/Case-Shiller index for May showing a 4.6pc year-on-year increase in house prices in 20 major US conurbations.
Why? Read the full story at CNBC.