Corporate buybacks will fuel the next recession and it could happen this year, says Wall Street bear

that showed unemployment at its lowest since 1969. The major indices are hovering near all-time highs.

On the monetary policy side, Rosenberg noted that of the Fed's 13 tightening cycles since World War II, 10 have pushed the economy into a slowdown or a recession. And although the next downturn probably won't look like the crisis-stricken period between 2007 and 2009, it won't be pretty, Rosenberg said. In fact, he said, it'll probably be fueled by his second major concern: The sheer abundance of share buybacks he's seen in recent years.

FuturesNow Good. In time for election season.

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