×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: robert shiller | economy | housing | bloomberg tv

Yale's Robert Shiller: 'Long-Term Global Malaise' Is Puzzling

Yale's Robert Shiller: 'Long-Term Global Malaise' Is Puzzling
Nobel laureate economist Robert Shiller of Yale University

By    |   Thursday, 29 October 2015 06:00 AM EDT

Nobel laureate economist Robert Shiller of Yale University warns that the global economy continues to seek solid footing, and economic signs don’t look promising.

“We’re in a puzzling economy,” Shiller told Bloomberg TV. “This weak economy, it’s worldwide, and it might be a long-term malaise.”

He warns that home prices could tumble in the next few years despite a 5.1% increase in August.

“Well, I’m not surprised because we’re reporting the August numbers, it’s the end of the summer seasonal,” said Shiller. “If you look at seasonally adjusted [numbers], they’re just about flat, up one tenth of one percent for our 10 and 20 city index.”

“A year ago our Index was going up at a 10% rate, now it’s a five percent rate,” said Shiller.

“This is not the stock market, this is the housing market, and that suggests there might be a lowering, and possibly even declines in home prices in the next year or two.”

But others have a more optimistic view of the economy, both globally and domestically.

Business Insider recently cited six reasons why the U.S. “is not doomed” to slide into a recession.

“While it's always good to be on guard, it seems that most of the evidence supports the argument that the economic expansion still has a ways to go,” Business Insider reported, citing may economists’ bullish forecasts.

The half-dozen reasons to be optimistic from BMO Capital's Brian Belski:
  • Long-term rates are higher than short-term rates. Recessions usually happen when the opposite is true;
  • Manufacturing surveys continue to signal growth, but at a slower pace;
  • Consumer confidence is still rising;
  • Homebuilder sentiment is the most optimistic since 2005;
  • Sales of autos and other big-ticket items are still rising;
  • Weekly claims for unemployment insurance are at their lowest in 15 years.

"We believe a US recession remains years away," Goldman Sachs Asset Management wrote recently, reflecting the broader consensus among those on Wall Street.

© 2022 Newsmax Finance. All rights reserved.


StreetTalk
Nobel laureate economist Robert Shiller of Yale University warns that the global economy continues to seek solid footing, and economic signs don't look promising.
robert shiller, economy, housing, bloomberg tv
320
2015-00-29
Thursday, 29 October 2015 06:00 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved