Uber bear economist Gary Shilling thinks the financial crisis is still unfolding, and advises to buy Treasuries and the dollar and dump commodities.
First, the consumer is on a big saving tear and as long as that’s the case, we’re not going to see an economic rebound that amounts to anything, Shiller says.
It isn’t just that consumers are on a saving spree, it’s that they are reversing a 25-year trend, Shilling told Bloomberg. (more)
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