Gary Shilling

Stocks have fallen to near-bear market territory. Bonds have suffered big price declines. Foreign currencies have nosedived against the US dollar. Cryptocurrencies, SPACs and other speculations have collapsed. But commodities have been on a tear. The Bloomberg Commodity Spot Index has surged 33%…

Most of the dire forecasts of the effects of rising carbon emissions and global warming assume no significant human response. Rising sea levels will flood the coastal cities to which people have increasingly moved. Crops will wither due to too much summer heat. Perhaps the dinosaurs died out…

The yield on the benchmark 10-year US Treasury note averaged 0.79% from 2007 through last year after adjusting for inflation as measured by the consumer price index. It’s now minus 4.0%. If that’s not shocking enough, corporate bonds rated below investment grade, or junk, yield 4.57%, below the…

The US labor market is tight. In April, there were 9.3 million job openings but just 6.1 million new hires, according to the latest Bureau of Labor Statistics. Wages are rising as a result. And yet, these conditions should help corporate profits and contain inflationary pressures. No doubt there…

The US economy has experienced its slowest recovery from a recession in the post-World War II era, and the longer it lasts the more evidence there is that normal cyclical patterns are missing. And their absence means market participants shouldn’t rely on them to divine the economy’s future. …

Hurricanes, severe winter storms, wildfires, droughts and several recently issued reports have raised fresh concerns about climate change and the threat it may pose to the planet. The first thing investors should do in reaction to the global warming issue is not panic. Steven Koonin, a…