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Nobel Prize-winning economist
warns of US stock market bubble
that could be ruinous for the country

Reuters, by Staff

Original Article

Posted By:Attercliffe, 12/2/2013 6:18:19 AM

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

Comments:
In the average price of a house in the UK rose around $1300 last month.

http://www.express.co.uk/news/property/446276/House-prices-are-up-800-in-month

      


Post Reply  

Reply 1 - Posted by: Jntsrgn, 12/2/2013 6:48:49 AM     (No. 9636441)

Duh.

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Reply 2 - Posted by: MOBeef4u, 12/2/2013 7:53:11 AM     (No. 9636495)

Stocks are trading at historic average PEs. Companies are leaner and more efficient. People are still shopping. So the sky isn´t falling quite yet. But there is the huge drag in several ways because of O-care.
Besides, just having a Nobel prize doesn´t automatically instill confidence anymore.

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Reply 3 - Posted by: Bubbasuncle, 12/2/2013 8:30:54 AM     (No. 9636552)

Stocks trading at historic highs does not instill confidence either. People may be shopping, but how are they paying. IMHO everything about this economy is illusion, built on credit and deficit spending by both government and citizen. The real numbers to look at are household savings; too many are living on credit and have little to no equity in their homes.

And when the brokers have finished making billions in fees and it all falls apart, what´s next? Another too big to fail moment and bailout? Very scary times folks.

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Reply 4 - Posted by: country boy, 12/2/2013 8:42:05 AM     (No. 9636568)

The problem is not that stocks are very expensive (which most stocks really are not). S&P 500 is only at ~16PE.

No, the big problem is that many people who are buying stocks, should not be. No, they should be buying CDs. But the FED is still trying to fix the mayhem from the FED engineered 2008 housing and banking crash. So CDs have played nearly zero for the past 5 years, forcing conservative investors to more risky investments.

Housing crash Part II coming within several years.

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Reply 5 - Posted by: stablemoney, 12/2/2013 8:54:31 AM     (No. 9636589)

Schiller, the Nobel Prize winner, says stocks are in a bubble, then says he is not sounding the alarm, and offers nothing as to where all the printed money might go. For someone put forward as an "expert", I expect quite a bit more.

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Reply 6 - Posted by: LouD, 12/2/2013 9:23:54 AM     (No. 9636628)

As #2 said, why believe in a Nobel prize winner? Look at some Nobel picks: Yassar(sp) Arafat, Jimmmy Carter, Hussein Obama. Need I say more?

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Reply 7 - Posted by: 6079 Smith, W, 12/2/2013 9:24:04 AM     (No. 9636629)

There is no Nobel Prize for Economics. There is the Sveriges Riksbank Prize in economic sciences in memory of Alfred Nobel, but it is not one of the Nobel Prizes. Krugman has one, so that doesn´t give me much respect for it.

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Reply 8 - Posted by: WAN2, 12/2/2013 9:35:35 AM     (No. 9636639)

As the stock market continues its climb, I remain dumbfounded if not morose. Seniors requiring a return on their savings must decide on taking more risk. Enter the stock market. Head for the hills.

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Reply 9 - Posted by: rmagnus, 12/2/2013 9:36:36 AM     (No. 9636641)

Another example of how clueless the media is. Inserting the description "Nobel Prize- Winning..." in the headline like it is some stamp of legitimacy is pathetic.

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Reply 10 - Posted by: mickturn, 12/2/2013 9:47:51 AM     (No. 9636659)

The FED has been pumping up the markets with printed (valueless) money. IT WILL CRASH!

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Reply 11 - Posted by: Udanja99, 12/2/2013 10:01:26 AM     (No. 9636682)

Exactly, #10.

I got out of the market completely last year.

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Reply 12 - Posted by: yuban, 12/2/2013 10:11:06 AM     (No. 9636702)

The love of money will take it´s toll on all that live outside their means.

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Reply 13 - Posted by: joew9, 12/2/2013 10:54:36 AM     (No. 9636761)

Every time there is even a breath about ending QE the market tumbles. There is no question it is being held up artificially. Keynesian-ism was never meant to be a long term solution. (Not much of a short term solution either.)

On the other hand the Tea Party has been pointing this out for years. In fact that is why the Tea Party was created in the first place. I think the Tea Party deserves a Nobel Prize.

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Reply 14 - Posted by: horacer, 12/2/2013 11:00:05 AM     (No. 9636771)

Margin debt is at an all time high and Yellen is running the Fed. What could go wrong.

Debt bomb, debt bomb, you´re a debt bomb, a bailout how you turn me on.

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