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

• A coming recession could end up sparking a "violent correction" in stocks, Gary Shilling told BI.
• The top forecaster pointed to warning signs of a downturn, such as a weaker job market.
• A full-blown recession could kill investor speculation, sending stocks crashing, he warned.

Investors should be prepared for a recession with the potential to send the stock market plummeting this year, according to top forecaster Gary Shilling.