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Economist Shiller Sees Potential for 'Double Dip' Recession
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Interview with Robert Shiller of Yale University, by Simon Constable of the Wall Street Journal. Shiller tells Constable that the second dip recession is imminent. Shiller senses that when the National Bureau of Economic Research looks at third quarter data for 2010, it will find that the second dip of the recession started here. In other comments Shiller said that the U.S. is standing at the edge of deflation. The view on housing markets of Shiller, who is one of the creators of the Case-Shiller Home Price Index, is that housing prices could decline for the next 5 years. Shiller sees the US's chief concern as unemployment. He suggests that local governments and the federal government create jobs. One idea is to have a teacher's aide in each classroom.
Robert Shiller and risks in America's future.
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