For those who are not familiar with the two professors, here is an introduction from Onpointradio:
Robert Shiller, professor of economics at Yale University. He’s co-author, with economist Karl Case, of the Case-Schiller home price index, the most widely cited database of housing prices in the U.S. Co-author of the new book, “Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank.” You can also watch Professor Shiller’s Yale course on financial markets online here.
Jeremy Siegel, professor of finance at the University of Pennsylvania’s Wharton School of Business. He’s author of “The Future for Investors: Why the Tried and True Triumph Over the Bold and the New” and “Stocks for the Long Run: The Definitive Guide to Financial Market Returns and Longterm Investment Strategies,” now in its updated fourth edition.
In the show, Siegel sounds typically bullish towards the US economy:
I’m very optimistic about this year. The data has really become much stronger, just over the last month. Almost every forecaster I follow has been raising their projections of GDP growth and becoming more optimistic. I think we’re…for the first time in a long time going to exceed expectations here in 2011.
Shiller, although ready to give in to the bulls any minutes, still has his reserves, especially in the housing and employment areas:
It’s definitely possible that we could see the GDP (grow) – we saw that about a year ago – we’ve had five consecutive quarters of GDP growth. But, you know, it hasn’t yet been enough to bring the unemployment rate down because we were really depressed. And to get back on trend we needed more than that.
Again, you can listen to the show in full here.
Siegel was seen at Foxbusiness yesterday and he repeated some of the same points:
Click here if you do not see the player, click here to watch.