Robert Shiller Says Trump Gives Cause for Optimism and Nervousness

Nobel–winning economist Robert Shiller told CNBC on Wednesday “I’m nervous” about Donald Trump, but said there’s no doubt the president-elect’s personality has ignited widespread excitement about future prosperity.

“Sometimes that nervousness can go along with optimism,” the Yale professor said on”Squawk Box.” “I didn’t vote for Trump. So we’ve got him. Let’s hope for the best. He might do something good.”
Shiller, who literally wrote the book on “Animal Spirits,” said the nation has “never had a president” like Trump. His whole persona is “live big, live large” and that’s aspirational for many Americans, Shiller said.

The term “animal spirits,” the title of the 2009 book co-authored by Shiller, is used to describe the intangibles that psychologically drive excitement on Wall Street or in a particular sector, such as housing.

Shiller, co-creator of the S&P Case/Shiller home prices index, said Trump is a “motivational speaker” with a “tremendous self-confidence” that’s contagious.

“We’re going to see big changes,” predicted Shiller.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza