Gary Shilling says there is nothing on the immediate horizon that would trigger a correction, but he warns that Fed tightening has caused a recession 11 out of 12 times since the World Wars. The Fed doesn't understand why low unemployment hasn't pushed up inflation, Shilling says. He says most of them are economists and are too theoretical. They don't understand that the Phillips curve has broken. Shilling says that when it comes to trade, the buyer has the upper hand when there's plenty of...


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