Dr. Gary Shilling, President of A. Gary Shilling & Co., Inc., received his bachelor’s degree in physics, magna cum laude, from Amherst College, where he was elected to Phi Beta Kappa, and Ph.D. in economics at Stanford University. While on the West Coast, he served on the staffs of the Federal Reserve Bank of San Francisco and the Bank of America. At 29 he set up the Economics Department at Merrill Lynch and served as the firm’s first chief economist. Earlier, he was with Standard Oil Co. (N.J.), where he was in charge of U.S. and Canadian economic analysis and forecasting. He is a regular columnist for a number of publications and appears often on radio and television business shows. His most recent book, The Age of Deleveraging: Investment strategies for a decade of slow growth and deflation (2010), argues that the global economy is going through a long period of de-leveraging and weak growth, and deflation far more likely greater threat to investors than inflation.