Shilling Forecasts Lower Returns, Recession Dragging into 2025 amid Slow Growth and Stock Market Risks
• Gary Shilling expects lower S&P 500 stock market returns in the future due to slower economic growth, high valuations, and fading speculation.
• He believes a recession appears likely and could stretch into 2025.
• Factors indicating elevated stock prices include investor complacency, lofty earnings forecasts, and concentration of money in tech giants.
• Labor hoarding has delayed layoffs, so a recession may persist into next year.
• Shilling has recently warned the S&P 500 could plunge 30% and a recession was imminent, though stocks have surged to new highs.