Shiller is a researcher and Nobel Prize winner for his work on the empirical analysis of capital market prices. He worries about the current inflation.
(Photo: Laif, AP, AfP, Action Press, Getty Images)
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.
Read on now
Get access to this and every other article in the
Web and in our app for 4 weeks free of charge.
Continue
Read on now
Get access to this and every other article in the
Web and in our app for 4 weeks free of charge.
Continue