Another day, another high-profile investor declaring the US economy is in trouble. Jeffrey Gundlach, the CEO of investment management company DoubleLine Capital, expects a US recession as soon as this year amid the higher for longer interest rate environment.

"There's a lot of recessionary signals out there," he said, speaking at a webinar hosted by David Rosenberg, founder and president of Rosenberg Research. "There's more of a recessionary feel than an inflationary feel," he added. He also expressed concerns about the growing debt burden of the US government, fearing that it could eventually lead to a restructuring of US government debt, which would be unprecedented.

"I've got this crazy idea that I want to  buy only the lowest coupon Treasuries … because if I have a very low coupon Treasury I don't have to worry about being restructured," he said. "I worry that the federal government might be forced to restructure the Treasury debt."