22 March 2011
It should be noted that it was Mr. Marion who precisely predicted how long the Canadian recession will last. Meanwhile, many others couldn’t.
Recently, Mr. Marion said he agrees with the reports, suggesting $100-billion will be enough to rebuild from damages caused by earthquakes and tsunami. Another important thing is that after the Kobe earthquake in 1995, Japan sold U.S. Treasury securities worth $30-billion.
Mr. Marion believes we’ll see the same tendency. This time the selloff could reach 2% of U.S. gross domestic product. In the end, there may be a 0,5% increase in U.S. 10-year Treasury yields.