Our Interview with Gary Shilling: What’s Going on with the Economy?
Jul 20, 2022
Last week we conducted our semi-annual interview with noted award-winning economist Gary Shilling. Talk about a timely interview. Gary offered some interesting insights on where are at with the economy - not just in the United States but also what is happening on a global basis.
We’ve been interviewing Gary for over a decade and one thing we've appreciated is Gary's straight forward assessment as he looks beyond the headlines to help us understand what is really happening on the economic front. And with everything that is happening today, this interview is arguably one of the most important interviews we've had with Gary.
At the top of the list is this question: Here in the United States, people want to know: “Are we in a recession?” While the media has declared that two consecutives quarters of negative GDP numbers qualifies as a recession, the National Bureau of Economic Research is actually responsible for declaring whether there is in fact a recession and they have yet to do so. However, Gary noted that if we are not yet in a recession, we are about as close as you can get, regardless of whether it has been officially declared.
Gary also discusses the practical implications of the economic climate for both individuals and businesses and provides insights on what’s happening throughout the world. After we discussed this, Gary offered some thoughts about the importance of businesses having ample liquidity to protect themselves. We also discussed why it is so important to consider scenario planning for your company and supply chain. We encourage you to hear what he has to say and share this with others who could benefit.
I have been a long time subscriber to Gary's monthly Insights Newsletter. Gary has graciously agreed to provide a free copy of his most recent newsletter. If you would like to receive this complementary issue, send my team an email and we will coordinate with Gary's team to get you that copy.
BY MIKE REGAN, CO-FOUNDER OF TRANZACT
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