Gary Shilling has some interesting point to make in his new book,The Age of Deleveraging: Investment Strategies for a Decade of Slow Growth and Deflation
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For one thing, he sees 2-3% of deflation annually in long term, precisely because of the deleveraging that the financial sector, government and consumers alike around the world are doing.
Shilling is still bullish on the 30-year Treasury bond. He sees the yield will go down to 3% from the current 4-4.25%, appreciating about 25% in price.
Shilling sees the recent price surge in commodity prices not affect his long term deflation prediction.
.For one thing, he sees 2-3% of deflation annually in long term, precisely because of the deleveraging that the financial sector, government and consumers alike around the world are doing.
Shilling is still bullish on the 30-year Treasury bond. He sees the yield will go down to 3% from the current 4-4.25%, appreciating about 25% in price.
Shilling sees the recent price surge in commodity prices not affect his long term deflation prediction.
