Economics
Bubble Predictions

Shiller ... the NOBEL PRIZE ECONOMIST WARNS U.S. OF STOCK MARKET BUBBLE

Burgess COMMENTARY

Peter Burgess

NOBEL PRIZE ECONOMIST WARNS U.S. OF STOCK MARKET BUBBLE:

An American who won this year’s Nobel Prize for economics believes sharp rises in equity and property prices could lead to a dangerous financial bubble and may end badly, he told a German magazine. Robert Shiller, who won the esteemed award with two other Americans for research into market prices and asset bubbles, pinpointed the U.S. stock market and Brazilian property market as areas of concern. “I am not yet sounding the alarm. But in many countries stock exchanges are at a high level and prices have risen sharply in some property markets,” Shiller told Sunday’s Der Spiegel magazine. “That could end badly,” he said.