Wall Street experts have said that a big recession, far worse than the 2008 financial crisis, is due to hit this year. With the S&P 500 beginning 2016 with its worst performance ever, experts say 2016 holds chaos in currency, bond and equity markets on a global scale. Cnbc.com reports: This has prompted Wall Street apologists to come out in full force and try to explain why the chaos in global currencies and equities will not be a repeat of 2008. Nor do they want investors to believe this environment is commensurate with the dot-com bubble bursting. They claim the current turmoil in China is not even comparable to the 1997 Asian debt crisis. Indeed, the unscrupulous individuals that dominate financial institutions and governments seldom predict a down-tick on Wall Street, so don’t expect them to warn of the impending global recession and market mayhem. But a recession has occurred in the U.S. about every five years, on average, since the end of WWII; and it has been seven years since the last one — we are overdue. Most importantly, the average market drop during the peak to trough of the last 6 recessions has been 37 percent. That would [...]