Another financial genius who thinks excess reserve are a hot potato.

Just you wait.

Business Insider
Gary Shilling: The Forces Are In Place To Propel The Economy Past Full Employment And Into Serious Inflation

Sam Ro

Mish — Gary Shilling: US in Recession Now or Within 3 Months, Deleveraging Will Take 5-7 More Years

In a Daily Ticker Interview with Henry Blodget, economist Gary Shilling makes the case the US is already in recession.

MISH'S Global Economic Trend Analysis
Gary Shilling: US in Recession Now or Within 3 Months, Deleveraging Will Take 5-7 More Years (with video)
Michael (Mish) Shedlock

UPDATE: Edward Harrison — Gary Shilling: We are either in or entering a recession at Credit Writedowns

Gary Shilling bearish on 2012

Gary Shilling Sees `Severe' Recession for Europe (video)
Bloomberg InsideTrack Interview

Shilling thinks that social unrest won't be much of a factor in 2012, and that Occupy Wall Street is essentially over. I think that this results in an overly optimistic albeit bearish assessment. In my view, social unrest is fast becoming the driving political and economic force, and it is gaining steam globally.