-- On the Fiscal Cliff: Doesn't know how that will play out but the inability of Congress to reach a consensus on will surely hurt confidence.
-- It surely hurt confidence when Congress wasn't able to reach a consensus on raising the U.S. debt limit up until the last minute.
-- U.S. home prices were up 2.3% in June. This is different than in 2010 as they were boosted by new home buyer credit. This time it is without any help from government, so this is a good news.
-- But it is too early to call a bottom for home prices as there are still some clouds on the horizon.
-- Shiller is still worried about declining consumer confidence and high unemployment rates.
Here is the video: