More depressing talk from Gary Shilling: He thinks Europe fell into recession last quarter, a...

|By:, SA News Editor
More depressing talk from Gary Shilling: He thinks Europe fell into recession last quarter, a downturn as deep as in the U.S. during 2007-09, and enough to tip the relatively better U.S. economy into recession during Q1 of 2012. Even China won't be spared, he says, as consumers in contracting developed economies tighten their belts.