Money manager John Mauldin says there's another recession yet to come before the next true bull market.

“We’re still in a secular bear market" which will last another three years, Mauldin told MarketBeat. “We’re only a recession away.”

After that, “we’re going to see the end of this whole debt supercycle, this whole debt crisis,” after which a new bull market will start that will last 15-17 years, says Mauldin.

Editor's Note: Startling Proof of the End of America’s Middle Class. Details in the Video

“We all get to be geniuses in just another two or three years,” he says.

According to Mauldin, the U.S. economy is stalled, and if Europe has a meltdown, that will be enough to drag the U.S. back into recession. Just given the anemic growth itself, he said, a U.S. recession is likely.

Greece’s bank runs are “an endgame” that will probably be enough to tip the U.S. into another recession and force Greece to leave the euro.

“They can’t stay in the euro and not meet the austerity requirements because they’re not going to get the (promised bailout) money,” Mauldin says. “I think the better choice for them is leaving,” even though so doing would bring on a very deep depression that “would at least be quick,” he says.

Reuters reports that the safe-haven yen posted sharp gains against the euro and dollar on concerns about banks in Spain and Greece, chances of contagion if Greece leaves the euro and disappointing U.S. economic data.

Editor's Note: Startling Proof of the End of America’s Middle Class. Details in the Video