Billionaire investor Mark Mobius is of the view that a recession in the U.S is an unlikely scenario. Mobius does highlight the big risk and problem that a failure of the U.S banking system would be, however points out that while there have been banks that have gone under, the Federal Reserve reacted very quickly by arranging mergers and coming to the rescue of depositors.
Mobius also talks about the credit card debt in the U.S which he calls ‘quite incredible’ as well the mortgage market which he also says is a problem. However, Mobius believes that there is enough money in the system to finance these problems.