Mr Levy and David Levy

David Levy: Maybe the rest of the world will sneeze this time, and the US will get sick, according to The Independent. The recession for the rest of the world will be worse than the last one, says Mr Levy, whose grandfather called the 1929 stock crash and whose father won praise for anticipating turns in the business cycle, often against conventional wisdom and But sluggish growth in France, Italy, Russia, Brazil and China suggests that the old truism When the US sneezes, the rest of the world catches a cold may need to be flipped. Thats the view of David Levy, who oversees the Levy Forecast, a newsletter analysing the economy that his family started in 1949 and one with an enviable record. Nearly a decade ago, the now 59-year-old economist warned that US housing was a bubble set to burst, and that the damage would push the country into a recession so severe the Federal Reserve would have no choice but to slash short-term borrowing rates to stimulate the economy. Thats exactly what happened. Now Mr Levy says the United States is likely to fall into a recession next year, triggered by downturns in other countries, for the first time in modern history. (news.financializer.com). As reported in the news.