CNBC: Pimco Sees 60% Chance of Global Recession in 3-5 Years - VIDEOSubmitted by emalvini on Wed, 06/12/2013 - 12:03
CNBC: Pimco Sees 60% Chance of Global Recession in 3-5 Years - VIDEO
Published: Tuesday, 11 Jun 2013 | 11:18 PM ET
By: Dhara Ranasinghe | Senior Writer
High debt levels have raised the chances of a global recession in the next three to five years to more than 60 percent, said Pimco, which manages the world's largest bond fund.
The world economy goes through a recession about every six years and the frequency of global recessions tends to rise when global indebtedness is high and falling compared with when indebtedness is low and rising, Pacific Investment Management Co (Pimco) said in a note published on its website late Tuesday.
Read more: http://www.cnbc.com/id/100808186