Apparently both Robert Shiller and Alan Greenspan are feeling ignored and unloved. Echoing the newly non-opaque Alan Greenspan last week, here is Yale’s Shiller from a speech in Brazil today:
A high degree of “irrational exuberance” among
investors could lead to a major correction in the Chinese stock market
in the next few months, with a knock-on effect for the world economy,
Yale University economics professor Robert Shiller said Monday.
“It could even spark a worldwide recession,” he said.
Will someone please gives these guys some consulting work so they stop predicting the imminent end of the economic world.