Monday, October 16, 2017

Robert Shiller talks about Bubbles in Bitcoin, Gold, Market

On Bitcoin
I'll take bitcoin, too, because I know I can sell it and get out of it. There seems to be some strange enthusiasm for it. People get excited about things like new monetary standards. Remember bimetallism? It went into a fad, everyone was talking about it for a while. And then it faded.

I think gold is a bubble, but it's always been a bubble. It has some industrial uses, but it basically it's like a fad that's lasted thousands of years.

Market Confidence 
Confidence in the valuation of the market is indeed the lowest it's been since 2000. And when it got low in 2000, the market fell about 40 percent. So it was bad. I think there's a danger, but I'm not saying to sell everything. I'm still in the market myself."