Economist Robert Shiller, who shared the 2013 Nobel Prize for his work on asset prices, says a US recession is inevitable and perhaps overdue.
In a new interview with Time Magazine, Shiller notes,
“Well, there will be a recession. The question is when. I’m tempted to say that we’re overdue for one, because this expansion will be the longest in history. That’s assuming the economy isn’t already in recession.
I’m thinking about the narrative and the stories I’m hearing. I think the talk of the recession is building up. The stories are coming in which are probably related to the trade crisis. And it’s going back to a 1930s narrative about a tariff war, a trade war. It’s unsettling people. It’s causing some people to curtail their spending.”
Some leaders in the cryptocurrency community speculate that a recession could lead to more interest in Bitcoin as a safe-haven asset. Read More...