Robert Shiller and Jeremy Siegel both are good friends and economists who I highly respect. Shiller wrote in 2000 the best seller Irrational Exuberance
predicting the tech bubble crash, and Siegel wrote a fantastic best seller titled Stocks for the Long Run
. They both have different views on the economy. Siegel belives there is no chance of a double dip recession and the only question is how strong the recovery will be.
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Robert Shiller is more pesimistic and sees a possibility of a double dip recession. He quotes respected Martin Feldstein who says there is a good chance of a double dip. He sees many headwinds ahead for the economy. The most likely reason for a double dip is a decrease in confidence.
However, Siegel believes that despite the bad recent confidence data consumer spending is going up. Siegel also sees encouraging signs in Asia. Siegel does not believe housing is too important for the economic recovery.
The video is below