Dusseldorf In the world of finance, Robert Shiller has a reputation for being a crash prophet who is often right. The Nobel laureate in economics predicted the crash of the markets after the Internet euphoria of the turn of the millennium. Likewise the outbreak of the financial crisis, which started in a completely overvalued US real estate market.
The Yale economist is still skeptical today: “The markets are grossly overvalued – especially in the USA,” says Shiller. The stock exchanges could collapse by up to 50 percent. He sees a great danger in the dramatically rising inflation rates.
Shiller also advises against further investment packages. The economy is working at full capacity: “We have almost full employment, so a huge stimulus doesn’t make much sense. It actually does harm, ”says the economist.
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