The Age of Deleveraging, Updated Edition: Investment Strategies for a Decade of Slow Growth and Deflation - Softcover

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A. GARY SHILLING is President of A. Gary Shilling & Co., an economic consulting firm and a registered investment advisor. He has been a columnist for Forbes magazine since 1983, frequently appears on business news programs, and is quoted regularly in the print media. Shilling has been warning about the long-term threat of deflation for several years and has even created a board game, aptly titled The Deflation Game. He received his bachelor's degree from Amherst College and earned his master's degree and PhD in economics at Stanford University. Before establishing his own firm in 1978, Shilling was senior vice president and chief economist of White, Weld & Co., Inc. Earlier, he set up the Economics Department at Merrill Lynch, Pierce, Fenner & Smith Incorporated and served as the firm's first chief economist.

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PRAISE FOR the Age of Deleveraging

"Gary Shilling brilliantly exposes the delusions of the bullish consensus and the deadly dangers of debt accumulation, deflation, deleveraging, debt defaults, and double-dip and near-depression risks. He is one of the sharpest thinkers on economic issues and their market implications. This is a must-read book for all."
—Nouriel Roubini, Professor of Economics and International Business, Stern School of Business, New York University

"Watch as the world Gary paints in this book comes to pass. And it is a very different world than the usual suspects want you to see. Ignore Gary at the peril of your investment portfolio. So instead of buying their funds, why not read Gary and let him show you alternatives that will work in a world of deleveraging, deflation, and slower growth."
—John Mauldin, President, Millennium Wave Advisors, LLC (MWA), a three-time N.Y. Times bestselling author, and editor of Thoughts from the Frontline e-letter

"Gary Shilling is rarer than a black swan; he's an economist who foresaw deflation. While central bankers were promising endless prosperity through managed inflation and influential economists were celebrating the 'New Economy,' Gary's followers were holding treasury bonds and preparing for the big shift. Shilling has predicted the 'impossible' several times in his career, so his colleagues should no longer be surprised when he turns out to be right."
—Robert R. Prechter Jr., author of Conquer the Crash

"This highly readable book, written by an accomplished economist, is certainly worth your attention. I have known Gary since 1973 and have always been impressed by his ability to recognize long-term trends. The Age of Deleveraging is the book you should definitely read."
—Dr. Marc Faber, Marc Faber Limited

"Lots of unconventional insights of analyses. But remember the acid test of advice: those who followed Gary's not-always-popular advice during these turbulent times made money. This man is an original—and well worth listening to."
—Steve Forbes, President and Chief Executive Officer, Forbes, and Editor in Chief, Forbes magazine