Top economist Gary Shilling shows you how to prosper in the slow-growing and deflationary times that lie ahead While many investors fear a rapid rise in inflation, author Gary Shilling, an award-winning economic forecaster, argues that the global economy is going through a long period of de-leveraging and weak growth, which makes deflation far more likely and a far greater threat to investors than inflation. Shilling explains in clear language and compelling logic why the world economy will struggle for several more years and what investors can do to protect and grow their wealth in the difficult times ahead. The investment strategies that worked for last 25 years will not work in the next 10 years. Shilling advises readers to avoid broad exposure to stocks, real estate, and commodities and to focus on high-quality bonds, high-dividend stocks, and consumer staple and food stocks. Written by one of today's best forecasters of economic trends-twice voted by Institutional Investor as Wall Street's top economist - Clearly explains what to invest in, what to avoid, and how to cope with a deflationary, slow-growth economy - Demonstrates how Shilling has been consistently right about major economic trends since he began forecasting in the early 1980s Filled with in-depth insights and practical advice, this timely guide lays out a convincing case for why investors need to be prepared for a long period of weak growth and deflation-not inflation-and what you can do to prosper in the difficult times ahead. While many investors fear a rapid rise in inflation, author A. Gary Shilling, an award-winning economic forecaster, argues that the global economy is going through a long period of deleveraging and weak growth--which makes deflation far more likely and a far greater threat to investors than inflation. In The Age of Deleveraging , Shilling explains in clear terms why the United States and world economy will struggle for several more years and what you can do to protect and grow your wealth in the difficult times ahead. Opening with an informative look at Shilling's incredible forecasting track record--including the recent housing and financial bubbles--as well as his philosophy behind forecasting and analyzing the economy and financial markets, The Age of Deleveraging moves on to discuss his outlook for slow growth and deflation in the next decade, and how you can cope with it. The fact is, investment strategies that have worked for the last twenty-five years will not work in the next ten. Nobody understands this better than Shilling, and with The Age of Deleveraging , he offers expert advice on what it will take for investors to navigate such treacherous terrain, including avoiding commercial real estate and commodities and focusing on high-quality bonds, consumer staple and food stocks, and investments related to North American energy sources. Along the way, Shilling also: Examines the effects of increased government regulation and involvement in the economy as well as six other factors that will hamper economic growth in the next decade - Outlines various strategies for investing in appropriate sectors and avoiding others - Provides a practical perspective of how stocks will fare in the long run - And much more Filled with in-depth insights and detailed advice, this timely guide lays out a convincing case for why investors need to be prepared for a long period of weak growth and deflation--not inflation--and what you can do to prosper during this time. Praise for The Age of Deleveraging "Gary Shilling brilliantly exposes the delusions of the bullish consensus and the deadly dangers of debt accumulation, deflation, deleveraging, debt defaults, and double-dip and near-depression risks. He is one of the sharpest thinkers on economic issues and their market implications. This is a must-read book for all." -- Nouriel Roubini, Professor of Economics and International Business, Stern School of Business, New York University "Watch as the world Gary paints in this book comes to pass. And it is a very different world than the usual suspects want you to see. Ignore Gary at the peril of your investment portfolio. So instead of buying their funds, why not read Gary and let him show you alternatives that will work in a world of deleveraging, deflation, and slower growth." -- John Mauldin , President, Millennium Wave Advisors, LLC (MWA), a three-time N.Y. Times bestselling author, and editor of Thoughts from the Frontline e-letter "Gary Shilling is rarer than a black swan; he's an economist who foresaw deflation. While central bankers were promising endless prosperity through managed inflation and influential economists were celebrating the 'New Economy, ' Gary's followers were holding treasury bonds and preparing for the big shift. Shilling has predicted the 'impossible' several times in his career, so his colleagues should no longer be surprised when he turns out to be right." -- Robert R. Prechter Jr. , author of