I recently completed reading Gary Shilling's book, The Age of Deleveraging, and Harry Dent's, The Demographic Cliff. Both writers are regarded as predictors of the real estate and economic meltdown in 2008. Both of them state that we have begun a deflation of our economic activity and banks cannot hide the issue for much longer.
Collapse Due to Baby Boomers Spending Less
Harry Dent builds his prediction with respect to the way that my era, the Baby Boomers, are heading into retirement and were stunned by the financial crisis in 2008 into forcefully saving money, as opposed to consuming.
Gary Shilling lands at the same conclusion for the same reasons and backs his figure up by indicating Japan, an economy that is in its third decade of collapse for comparative reasons, is similar to what we're going to encounter; a maturing populace that is not spending as much…