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Shiller Backs Away From 'Late Great Depression' Remark

tow789 Wrote: May 04, 2012 12:03 AM
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After declaring that the world was in a state of “late Great Depression” on Tuesday, renowned Yale economist Robert Shiller hedged his words.

“Did I say that? Well, I think there are a lot of analogies to what we’ve been going through to that of the Great Depression, but I don’t really think we’re in a depression, so I might have said it slightly wrong,” he said in an interview on CNBC’s “The Kudlow Report.”

Shiller, co-developer of the Case-Shiller index on housing trends and author of “Finance and the Great Society,” said that while the United States wasn’t in a...