US could see another recession in 2017; here's how to prepare for it

In US economic history, no economic expansion has lasted more than a decade

My outlook for 2017 and beyond is that the U.S. economy will likely see another recession.

Yes, the economic picture currently looks wonderful. The Dow and S&P 500 are at record levels. Unemployment is well below five per cent of the labour force. Inflation is still tame. The U.S. dollar is strong.

The U.S. economy has grown dramatically over the long run. GDP has increased by one-third since the beginning of the 21st century, even after adjusting for inflation.

However, capitalist economies do not simply grow steadily larger.