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Nobel Committee awards 3 Am. Keynesian Economists, 1 for 'predicting' the Housing Bubble...in 2005, when Ron Paul did in 2001!

The Mises View: "Fama, Hansen, and Shiller" | Mark Thornton

http://youtu.be/_MAGqa3zK-8
MisesMedia
Published on Oct 14, 2013

Mark Thornton discusses the three American winners of the 2013 Nobel Memorial Prize in Economic Sciences. Thornton is a Senior Fellow at the Mises Institute. For more information, visit the Mises Institute online at mises.org.

Yay! NeoCon Keynesian U of Chicago wins Nobel Econ Prize, again! Yay!

VOMIT: Yeah, like they were the most vocal critics of the dangers of housing bubble and collapse, before they occurred, say vs. Dr. Ronald Ernest Paul, or Peter Schiff and everyone else in the Austrian School??

Nobel Prize U.S. winner warns of 'bubbly' global home prices


Photos of the 2013 Nobel Prize laureates in Economic Sciences Eugene Fama (L-R), Lars Peter Hansen and Robert Shiller are displayed during a news conference at the Royal Swedish Academy of Sciences in Stockholm October 14, 2013. REUTERS/Claudio Bresciani/TT News Agency

By Alister Bull and Johan Ahlander

WASHINGTON/STOCKHOLM | Mon Oct 14, 2013 2:55pm EDT

(Reuters) - One of three American economists who won the 2013 economics Nobel prize on Monday for research into market prices and asset bubbles expressed alarm at the rapid rise in global housing prices.

Robert Shiller, who shared the 8 million Swedish crown ($1.25 million) prize with fellow laureates Eugene Fama and Lars Peter Hansen, said the U.S. Federal Reserve's economic stimulus and growing market speculation were creating a "bubbly" property boom.

The Royal Swedish Academy of Sciences lauded the economists' research on the prices of stocks, bonds and other assets, saying "mispricing of assets may contribute to financial crises and, as the recent global recession illustrates, such crises can damage the overall economy."

This was the case in the collapse of the U.S. housing market, which helped trigger the 2008-2009 global financial crisis. Markets are at risk of committing the same error now, Shiller told Reuters after learning he had won the Nobel prize.

Shiller's work led him to suggest in 2005 that the U.S. housing market might be overheating. He helped create a closely watched gauge of housing prices, the S&P Case/Shiller Index.

2005?? Pfft! Try 2001 and 2003, ya Keynesian fraud statist buttheads!

Where's Dr. Ronald Ernest Paul's Nobel Prize in Economics, ya turds!!??

Ron Paul accurately predicts the US economic meltdown 10 years ago

http://youtu.be/IHNp1wf1T_k
TheUnfilteredNEWS
Uploaded on Jun 12, 2011

This video reveals Ron Paul's opinion about the "housing bubble" in 2002 and 2007, his opinion of the rationale and threat from Iraq in 2002, his amazing statement in 2007 at a presidential debate that Osama bin Ladin was hiding in Pakistan, and additional predictions that are coming true today.

If you're tired of electing officials who don't know what they are doing, take a look at Ron Paul. No other candidate for President has his principled voting record, and nobody else has his amazingly accurate record of predictions (culled from his knowledge of history and the Austrian school of economics).

Ron Paul Predicts Housing Bubble/ $2000k Gold In 2001!

http://youtu.be/kFd8YluIVG4
GoldStockGuru
Uploaded on Nov 1, 2011

Ron Paul's Predictions in 2001 http://www.GoldStockGuru.com

Ron Paul Calls the Housing Collapse in 2003

http://youtu.be/9S3lXDOQ7ec
machaeroguy
Uploaded on Jun 3, 2011

Should have listened to this man. Austrian economics ftw.



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Pathetic :(

Pathetic :(

ecorob's picture

Alfred Nobel has been turning over in his grave...

for a long time.

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

Understatement of the year

I was afraid he'd send the Earth out of orbit and into the sun when it was awarded to Obama.

The 3 Banksta-teers: 1 for all. All for 1 - Swedish Central Bank

Three Banksta-teers ... knighted by the Royal Bank of Sweden. The Official Bank of Sweden - BS - Prize The Swedish Central Bank: Prizing your idiots. Fooling you blind, since 1969.

This dismal Economics Prize is awarded by Sweden's central bank, foisted among the five real prizewinners, often to economists for the 1% -- and the surviving Nobel family is strongly against it. October 12, 2012 |

It’s Nobel Prize season again. News reports are coming out each day sharing the name of the illustrious winner of the various categories — Science, Literature, etc. But there’s one of the prizes that’s a little different [a fraud]. Well, that’s putting it lightly… you see, the Nobel Prize in Economics is not a real Nobel. It wasn’t created by Alfred Nobel. It’s not even called a “Nobel Prize,” no matter what the press reports say.

The five real Nobel Prizes: Physics;; Chemistry; Literature, Peace, and Mmedicine/Pysiology.

...I am not an expert in horses and do not speak with assurance. I can always tell which is the front end of a horse, but beyond that my art is not above the ordinary. - Mark Twain, a Biography

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

lol. no kidding, and the Norwegians aren't supposed to oversee

an eponymously Swedish organization, either, but who's checking??

.D

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

oh god, this Keynesian douche is worse than I ever thought:

the 'genius who foresaw the dangers of housing bubble' deluded more Fed-induced bubble was the key to solving it!!!!!

Here's his April 15 (Commie Tax Theft Day), 2009 OpEd @ wait for it...Bloomberg:

Depression Lurks Unless There’s More Stimulus: Robert Shiller

Commentary by Robert Shiller - April 15, 2009 00:01 EDT


[Remember this Face of Economic Sophistry:] Robert J. Shiller

April 15 (Bloomberg) -- In the Great Depression of the 1930s the U.S. government had a great deal of trouble maintaining its commitment to economic stimulus. “Pump-priming” was talked about and tried, but not consistently. The Depression could have been mostly prevented, but wasn’t. Ultimately, the reason for this policy failure was inadequate understanding of the relevant economic theory.

In the face of a similar Depression-era psychology today, we are in need of massive pump-priming again. We appear to be in a much better situation due to the stronger efforts to date. Still, there is a danger that, because of a combination of faulty economic theory and inadequate appreciation of human psychology, as well as deep public anger, we will not continue with such stimulus on a high enough level.

We desperately need to be persistent, keeping our government response adequate for the problem at hand on a sufficient scale and for sufficient time.

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

SHILLer ... I mean, are they just taunting us now?!

What a SHILLer.

yup, and being a Yalie

at that level, if he ended up being a member of the Skull and Bones, wouldn't be surprising, either.

though, suppose it's just another in a long line of the NWO's 'in your face, peon'-jokes, like [David] Blood & [Al] Gore ASSociates.

When I first read about that vampire Clintonite douche's new hedgefund 'unofficial' name, I literally thought that it was a joke; well the joke's on the ClimateGate statist suckers, now, however deservedly, but still pathetic and feel sad for them, that they're that naive.

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

Bob Wenzel puts it more eloquently than I ever could've:

Nobel Prize Winner as Keynesian Crackpot

Tuesday, October 15, 2013

So what does one of the latest Nobel Prize winners, Robert Shiller, think causes unemployment? Capitalism.

I am not making this up.

In a paper titled, Austerity and Demoralization, he wrote:

Unemployment is a product of capitalism: people who are no longer needed are simply made redundant. On the traditional family farm, there was no unemployment.

The man doesn't understand simple supply and demand economics, which teaches that any unemployment is transitory (unless government regulations somehow distort the market, e.g. minimum wage laws, unemployment payments). Shiller, further, has no clue as to the phases of the business cycle and why there is a sudden cluster of unemployment in the liquidation phase of the business cycle.

One solution he promotes, though he ultimately dismisses it, is this, which reinforces the idea that he just doesn't get supply and demand economics:

Work-sharing might keep more people marginally attached to their jobs in an economic slump, thereby preserving their self-esteem. Instead of laying off 25% of its workforce in a recession, a company could temporarily reduce workers’ hours from, say, eight per day to six.

Unless, we are in paradise, there is always demand for workers. The central bank caused business cycle downturns are simply a period when work opportunities shift---no need to force employers into misallocating labor via work-share programs.

Shiller ultimately turns to a Keynesian 101 solution. More government spending:

[W]e need fiscal stimulus – ideally, the debt-friendly stimulus that raises taxes and expenditures equally. The increased tax burden for all who are employed is analogous to the reduced hours in work-sharing.

But, if tax increases are not politically expedient, policymakers should proceed with old-fashioned deficit spending. The important thing is to achieve any fiscal stimulus that boosts job creation and puts the unemployed back to work.

Yes, anything involving government spending---just don't allow the free market to resolve central bank induced episodes of high, but transitory unemployment.

That's the new Nobel prize winner.

Posted by Robert Wenzel at 10:55 AM

H/T: InfoWars.com

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

SteveMT's picture

This should have been a Ron Paul/Peter Schiff Nobel Prize.

They both should have earned a trip to Stockholm.

Peter Schiff Was Right (2002 - 2009) *
www.youtube.com/watch?v=A0Uk3hKnQQ8

ditto that!

+++1 !!!

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

LOL! Sorry, Doc. You're not enough of a warmonger

to receive a Nobel Prize!

: (

What would the Founders do?

I am SHOCKED! Shocked, I tell you ... (/sarc)

Thanks for the post, AnCapMerc.

I know that nobody is really surprised at this award.

Do I really need to mention the disconnect between the recent peace prize winner and his actions for evidence?

lol, na: no disconnect at all!

lol.

actually checkout my original title for this thread; I only changed it to make Ron Paul's name stand out more (because he deserves more credit: our Gray Champ ALWAYS deserves more credit!!! lol), but originally, it was this:

http://www.dailypaul.com/302545/nobel-in-econ-as-fraudulent-...

Nobel in Econ as Fraudulent as Their "Peace" Prize? Mises Inst.'s Mark Thornton's Response to 3 New Am. Nobel Econ Laureates

then as I was reading the Reuters article in full on a second tab in my browser, when it stated that he only 'concluded' by 2005, when Dr. Ronald Ernest Paul and everyone in the Austrian School knew long before, I actually got livid, at their arrogance and obnoxiousness of it all; so changed the headline, seeing as how complaining to the Scandinavians would prove fruitless in changing the outcome of an award that's already been handed out.o/

Did I mention how much I detest these statist frauds? lol..er. .o(

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

It's all public, right here, Nobel COMMittee! Smoke this:

Shiller's work led him to suggest in 2005 that the U.S. housing market might be overheating. He helped create a closely watched gauge of housing prices, the S&P Case/Shiller Index.

2005?? Pfft! Try 2001 and 2003, ya Keynesian fraud statist buttheads!

Where's Dr. Ronald Ernest Paul's Nobel Prize in Economics, ya turds!!??

Ron Paul accurately predicts the US economic meltdown 10 years ago

http://youtu.be/IHNp1wf1T_k
TheUnfilteredNEWS
Uploaded on Jun 12, 2011

This video reveals Ron Paul's opinion about the "housing bubble" in 2002 and 2007, his opinion of the rationale and threat from Iraq in 2002, his amazing statement in 2007 at a presidential debate that Osama bin Ladin was hiding in Pakistan, and additional predictions that are coming true today.

If you're tired of electing officials who don't know what they are doing, take a look at Ron Paul. No other candidate for President has his principled voting record, and nobody else has his amazingly accurate record of predictions (culled from his knowledge of history and the Austrian school of economics).

Ron Paul Predicts Housing Bubble/ $2000k Gold In 2001!

http://youtu.be/kFd8YluIVG4
GoldStockGuru
Uploaded on Nov 1, 2011

Ron Paul's Predictions in 2001 http://www.GoldStockGuru.com

Ron Paul Calls the Housing Collapse in 2003

http://youtu.be/9S3lXDOQ7ec
machaeroguy
Uploaded on Jun 3, 2011

Should have listened to this man. Austrian economics ftw.

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul