Economist and Nobel laureate Robert Shiller warns that the current stock market rally is merely nothing more than a bubble poised to pop.
Appearing on Bloomberg TV, Shiller was asked bluntly if the U.S. market is a bubble.
“In the United States, yes. I would call it that. Although, it is not as dramatic as it was in 2000. We are not of there yet. In Europe, less so of a bubble,” he said.
“Earnings have gone up since 2009 dramatically, but it is a reaction. It is an aftermath of a crisis. It encourages certain narratives. I have been in -- I want to know what people are talking about. The voters who voted for him find Trump very refreshing. It is very striking. I have not heard much mention of the financial crisis of 2009. We have pushed it all aside, and now it is something uncertain but exciting,” he said.
Shiller was complimentary of Trump.
“Here is the good thing about trump -- his business orientation and getting things done. Urging better risk management, better private risk management, which is a tool against inequality. Insurance hedging prevents inequality. They do not disrupt incentives,” Shiller said.
“He is an inspiration to entrepreneurs. The idea is that entrepreneurs can still get rich. We just have to put some balance to this.”
Other respected economic voices are more certain that Trump will truly indeed "Make America Great Again."
Veteran financial guru Larry Kudlow, who served as the Trump campaign's senior economic adviser, predicts to Newsmax TV that the record-setting stock rally “may go on for years” because the market “likes what it sees” before the president-elect has even officially taken office.
Stocks could drop in a natural turn of events, but for the most part, get ready for more record-high stock-market finishes, he recently told Steve Malzberg on “America Talks Live.”
“The Trump rally may go on for years,” said Kudlow, a Newsmax Finance Insider, radio talk-show host and CNBC senior contributor.
“It's not going to go on uninterrupted, but the market is telling you it likes what it sees regarding new economic policies to help business and to help growth and help jobs,” said Kudlow — host of "The Larry Kudlow Show" and author of "JFK and the Reagan Revolution: A Secret History of American Prosperity," written with Brian Domitrovic and published by Portfolio.
To be sure, Donald Trump will be a demanding leader who applies the best of his negotiating skills to push for U.S. growth, bestselling author David Horowitz told TheStreet.com.
Trump won’t be an ideological purist like Republicans who support free trade but don't fight for fair trade, Horowitz said.
“If you just say, ‘well we're for free trade and we're not going to look at the deals that we make’ -- that's not a good idea,” he said. “We've had an anti-business president now for eight years who doesn't take a hard-nosed attitude towards these deals. Trump is going to get better deals for us, which is still free trade.”
Horowitz's new book "The Big Agenda: President Trump's Plan to Save America," released just this week, reveals Trump's "first 100 days strategy" to roll back Obama's legislative and executive record.
Horowitz's new book is the first book about the Trump presidency and has soared to the top of the Amazon bestseller charts, becoming the No.1-selling book on the web.
Trump will also lead the way in making infrastructure spending to boost the U.S. economy, Horowitz said.
"Big Agenda: President Trump's Plan to Save America" is available at bookstores everywhere – or get your copy on Amazon – Click Here Now
(Newsmax wire services contributed to this report).
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