Robert Shiller was among the very few to warn of a housing bust before it happened. Now he says that although the housing market could be approaching a bottom, prices might remain in the “doldrums” for years to come as the US remains in a “liquidity trap” comparable to the one it faced during the Great Depression.
Though stock market prices are valued fairly, Shiller said, equities remained a “risky” investment because the US had not turned the corner on its fiscal crisis. He warned that stock prices “could fall dramatically”.
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WSJ What's News Late Edition, March 17, 2010by The Wall Street Journal 17 Mar 2010 at 5:56pm
Stocks rise again as the Dow closes at a 2010 high; wholesale prices fall in February, showing inflation remains in check; and MillerCoors shakes things up with a new brew.
Jeffrey Saut Daily Audio Comment Raymond James
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