- In the first part, the coming banking crisis due to the second major leg down in the price of houses. I am not sure whether the cause and consequences are not inverted here, as I would say that it is the banking crisis that will make the price of houses fall, since banks are unable to lend while consumers behaviour shows the mania is not over yet.
- The second part discusses the opportunities Gary Shilling is seeing: be cautious, as it's very tough, particularly in the long side. He is still bullish on the 30 year Treasury bond, the USD and the CHF.
Gary Shilling on the DailyTicker
Gary Shilling, the author of the Age of Deleveraging was interviewed on DailyTicker. This two segment interview covers: