August 29, 2013

We are now about five years into the deleveraging, and the related slow global growth, that followed the 2008 financial crisis. My forecast is for another five years of unwinding the excess borrowing by banks worldwide, U.S. consumers and many other sectors. (Illustrations by Dan Stafford | OPED by A. Gary Shilling)

March 27, 2013
Of the seven varieties of deflation, five are already at work in the U.S. economy. (Illustration by Stephen Cheetham | OPED by A. Gary Shilling)

Of the seven varieties of deflation, five are already at work in the U.S. economy. (Illustration by Stephen Cheetham | OPED by A. Gary Shilling)

March 26, 2013
There is an important distinction between good deflation caused by excess supply and bad deflation created by deficient demand. (Illustration by Stephen Cheetham | Column by A Gary Shilling)

There is an important distinction between good deflation caused by excess supply and bad deflation created by deficient demand. (Illustration by Stephen Cheetham | Column by A Gary Shilling)

March 26, 2013
Deflation is a peacetime phenomenon. (Illustration by Stephen Cheetham | Column by A Gary Shilling)

Deflation is a peacetime phenomenon. (Illustration by Stephen Cheetham | Column by A Gary Shilling)

February 01, 2013
The current “risk-on” investment environment may collapse (Illustration by Ellie Andrews | Column by A. Gary Shilling) 

The current “risk-on” investment environment may collapse (Illustration by Ellie Andrews | Column by A. Gary Shilling

January 31, 2013
In today’s markets, investors’ zeal for yield and disregard for risk favors the junkiest of the junk. (Illustration by Ellie Andrews | Column by A. Gary Shilling) 

In today’s markets, investors’ zeal for yield and disregard for risk favors the junkiest of the junk. (Illustration by Ellie Andrews | Column by A. Gary Shilling

January 29, 2013
Part 2: The dollar thrives in the age of competitive devaluations. (Illustration by Ellie Andrews | Column by A. Gary Shilling) 

Part 2: The dollar thrives in the age of competitive devaluations. (Illustration by Ellie Andrews | Column by A. Gary Shilling

July 26, 2012
The latest recession will probably be seen as a turning point for college and university financing. (Illustration by Kate O’Connor | Column by A. Gary Shilling on Bloomberg View) 

The latest recession will probably be seen as a turning point for college and university financing. (Illustration by Kate O’Connor | Column by A. Gary Shilling on Bloomberg View

June 06, 2012
Part 2: Japan’s debt sustains a deflationary depression. (Illustration by Kiji McCafferty | Column by Gary Shilling on Bloomberg View)

Part 2: Japan’s debt sustains a deflationary depression. (Illustration by Kiji McCafferty | Column by Gary Shilling on Bloomberg View)

June 06, 2012
Part 1: A strong yen contradicts a worrisome Japanese economy. (Illustration by Kiji McCafferty | Column by A. Gary Shilling on Bloomberg View)

Part 1: A strong yen contradicts a worrisome Japanese economy. (Illustration by Kiji McCafferty | Column by A. Gary Shilling on Bloomberg View)

April 13, 2012
Part 4: Investors are ignoring reality and emphasizing “risk-on” trades. (Illustration by Saiman Chow | Column by A. Gary Shilling on Bloomberg View)

Part 4: Investors are ignoring reality and emphasizing “risk-on” trades. (Illustration by Saiman Chow | Column by A. Gary Shilling on Bloomberg View)

April 12, 2012
Part 3: The U.S. economy is overdue for a recession, and economic indicators are pointing in the direction of a faltering economy. (Illustration by Saiman Chow | Column by A. Gary Shilling on Bloomberg View)

Part 3: The U.S. economy is overdue for a recession, and economic indicators are pointing in the direction of a faltering economy. (Illustration by Saiman Chow | Column by A. Gary Shilling on Bloomberg View)

April 11, 2012
Part 2: Get ready for a recession: Renewed job weakness will affect corporate profits and consumer spending. (Illustration by Saiman Chow | Column by A. Gary Shilling on Bloomberg View)

Part 2: Get ready for a recession: Renewed job weakness will affect corporate profits and consumer spending. (Illustration by Saiman Chow | Column by A. Gary Shilling on Bloomberg View)

April 10, 2012
Part 1: Will the U.S. avoid recession in 2012? (Illustration by Saiman Chow | Column by A. Gary Shilling on Bloomberg View)

Part 1: Will the U.S. avoid recession in 2012? (Illustration by Saiman Chow | Column by A. Gary Shilling on Bloomberg View)