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The US economy will slump into recession next year, hitting stocks and house prices, Harley Bassman says.

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  • The US economy will capitulate and enter a recession next year, Harley Bassman says.
  • The Wall Street veteran expects stocks and house prices to fall once unemployment and mortgage defaults rise.
  • Bassman once ignored a warning from "The Big Short" star Steve Eisman about the mid-2000s bubble.

A recession will strike the US economy next year, pummeling stocks and house prices, a Wall Street veteran has warned.

Harley Bassman, the managing partner of Simplify Asset Management, issued the bleak forecast during a recent Rosenberg Research webcast.

Tags
economy, economy, us-markets-and-economy, Inflation, Recession, federal-reserve, interest-rates, stock-market-outlook, housing-market, harley-bassman, the-big-short, steve-eisman, david-rosenberg, rosenberg-research
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A recession will hit next year, hammering stock prices and home values, Wall St…