Bill Gross’ Pimco, which manages the world’s largest bond fund, predicted earlier this week there’s a more than 60% chance of a recession in three to five years.”Given that the last global recession was four years ago, and also given that the global economy is significantly more indebted today than it was four years ago, we believe there is now a greater than 60 percent probability that we will experience another global recession in the next three to five years,” Saumil H. Parikh, a managing director and generalist portfolio manager at Pimco, said in a note Tuesday.
But Money Morning Chief Investment Strategist Keith Fitz-Gerald took issue with the prediction from Gross’ firm during an appearance on Fox Business‘ “Varney & Co.”
Keith also said stocks haven’t peaked – and won’t as long as the Fed keeps printing money.
Check out the accompanying video to see why Keith doesn’t exactly see eye-to-eye with the Bond King.
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