What Will Cause The Next Recession - Gary Shilling Thinks It's The Fed

Financial analyst Gary Shilling breaks down the biggest risks to the U.S. economy, including contagion from emerging markets debt, the Federal Reserve raising rates and potential shocks that could cause stocks to sink.
Gary Shilling has made a career out of predicting bubbles. So what are the big risks he sees out in the global economy now?
It's not necessarily a major shock that could drive the U.S. into a recession immediately, he says; he's concerned about emerging market debt.
He also explains that when the Federal Reserve raises interest rates, historically, it usually damages the economy. It's one of the reasons he's short stocks right now.
He's also short bitcoin, which he calls "some sort of a big Ponzi scheme.
» Subscribe to CNBC:
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: /
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Google+:
Follow CNBC News on Instagram:
#CNBC
#TheFed
Why The Fed Could Cause The Next Recession: Gary Shilling