Nobel Prize economist Robert Shiller warns of U.S. stock market bubble
Reuters – 16 hours ago
BERLIN (Reuters) – An American who won this year’s Nobel Prize for economics believes sharp rises in equity and property prices could lead to a dangerous financial bubble and may end badly, he told a German magazine.
Robert Shiller, who won the esteemed award with two other Americans for research into market prices and asset bubbles, pinpointed the U.S. stock market and Brazilian property market as areas of concern.
“I am not yet sounding the alarm. But in many countries stock exchanges are at a high level and prices have risen sharply in some property markets,” Shiller told Sunday’s Der Spiegel magazine. “That could end badly,” he said.
“I am most worried about the boom in the U.S. stock market. Also because our economy is still weak and vulnerable,” he said, describing the financial and technology sectors as overvalued.
https://ca.news.yahoo.com/nobel-prize-economist-warns-u-stock-market-bubble-145958281–sector.html
I have it on good authority that every time the market’s crashed, it been right off an all time high.
He won a Nobel for expressing insight like that ?
Well, Nobel Prize standards are pretty low now-a-days.
Sometimes you get them before you actually do anything (see 2009 Nobel Peace Prize)