Rodney Anderson Says We Are "Absolutely" Heading For A Double Dip Recession And In Housing
Anderson also emphatically says, "Double Dip Recession in 2011? Absolutely!"
Is a Double-Dip Ahead for Housing?
Robert Shiller Says Housing Optimism "Fading"
Robert Shiller, Economics Professor from Yale University and the man who co-founded the Case-Shiller Index on Housing is every bit as glum as Rodney Anderson in the previous video. Shiller was interviewed by Bloomberg TV earlier today. He said his latest numbers are not good for the overall economy. He did say this could be a temporary "blip", but if the numbers continue downward, it will mean some big trouble for institutions and people.
Shiller, unlike Robert Anderson, is not as positive that we will suffer a Double Dip Recession. He seems to think Keynesian policy has saved us from a worse fate, that we have seen a mild recovery, but he hedges his words by saying we have to see what will happen next. The question in Shiller's mind is if this is like 1938-1939, when the economy started moving down again, and here today the people are in no mood for more stimulus or bailout packages.
Shiller also says the problem in Housing dates back to artificial government subsidies since 1934, that people are starting to question these subsidies, and that these questions are leading to anxiety and worry which hurts public optimism about the Housing Market.
As Bloomberg TV just removed the video clip from youtube moments ago, you may click here to go directly to the Bloomberg TV site to see the Robert Shiller interview.
Robert Shiller Says Housing Optimism "Fading"
Robert Shiller, Economics Professor from Yale University and the man who co-founded the Case-Shiller Index on Housing is every bit as glum as Rodney Anderson in the previous video. Shiller was interviewed by Bloomberg TV earlier today. He said his latest numbers are not good for the overall economy. He did say this could be a temporary "blip", but if the numbers continue downward, it will mean some big trouble for institutions and people.
Shiller, unlike Robert Anderson, is not as positive that we will suffer a Double Dip Recession. He seems to think Keynesian policy has saved us from a worse fate, that we have seen a mild recovery, but he hedges his words by saying we have to see what will happen next. The question in Shiller's mind is if this is like 1938-1939, when the economy started moving down again, and here today the people are in no mood for more stimulus or bailout packages.
Shiller also says the problem in Housing dates back to artificial government subsidies since 1934, that people are starting to question these subsidies, and that these questions are leading to anxiety and worry which hurts public optimism about the Housing Market.
As Bloomberg TV just removed the video clip from youtube moments ago, you may click here to go directly to the Bloomberg TV site to see the Robert Shiller interview.
2 comments:
Clearly Robert Andersen has more balls than Shiller to come out and say what the data is all pointing to.
Shiller equivocates way too much, and he's one-half of the brains behind the data collection index on Housing. Shiller is too beholden to big banks and other big businesses who buy his data. For them, it is okay to know the truth. However, they expect Shiller not to be telling the American public just how bad it's gonna be.
Shiller seems to be playing his words much more safely these days. It's though he is in denial just like the NAR is/was.
His interview makes me wonder if Shiller isn't a bedrock Keynesian believer such as Paul Krugman, and that he simply cannot allow himself to believe that our Economy is not in recovery, never was in recovery, and it must change to a new structure if we are to ever recover at all?
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