Brace yourself for 2012 recession: Charles Dumas

American belt-tightening will tip the global economy into recession in 2012, predicts Charles Dumas, independent economist and chairman of London-based Lombard Street Research. Over the medium term, however, US equities will prove the most resilient asset class and will be the first to anticipate a recovery. His analysis is that Washington is going to tighten its belt. Dumas says developed economies need to reduce their debt burdens by 2% of GDP in 2012. This is likely to lead t…