"...we're working down excess financial leverage built up in the 1980's & 90's...that deleveraging has simply swamped all the fiscal signals that we're seeing around the world including all this excess liquidity that's been build up by central banks. The result is slow growth, and we've probably got at least three or four more years of that if the history is any guide. So, this liquidity is just kind of sitting there fallow. When we resume rapid growth, hey that's a different story. But for now, it's just a book keeping entry."
"Get Ready for $10 Oil."
"...oil production worldwide is exceeding demand by a couple of million barrels a day and now..."
Gary Shilling
http://www.digitaljournal.com/pr/2502541
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