Nobel-prize winning economist Robert Shiller warns the market meltdown is far from over. Even though the fundamentals of the real estate market are strong, but what he fears is the storyline of the epedemic of fear.
Acoording to Robert Shiller:
“This disease is contagious even before it shows obvious symptoms. So, it’s going to be harder to quarantine people in this epidemic. That’s the narrative, and we haven’t gotten very far into it yet,” the Yale University professor told CNBC’s “Trading Nation”. “So, the potential for market disruption because of a scary narrative is quite high.”
Robert Shiller: ‘It’s a dangerous time’
“What we have now is really two epidemics. We have an epidemic of the coronavirus, but we also have an epidemic of fear based around a narrative that is not necessarily keeping up with scientific reality. And, this narrative has been quite striking,” he said. “It’s a dangerous time for the stock market.”
Shiller, who warned last March on “Trading Nation” that a self-fulfilling prophecy – contends market anxiety will likely continue whether the outbreak worsens or not
Boston Rea Estate & The Bottom Line:
FDR once said:
“This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself”
