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[BusinessMirror - A broader look at today's business] The New Irrational Exuberance: “There’s a lot of risk going ahead of some big bumps,” he said in a Bloomberg Television interview Monday from Istanbul, citing housing, commercial real estate and consumers’ inability to pay off credit cards because of job losses. “There’s a very big risk that markets have been irrationally exuberant.”

[The Daily Reckoning] Nobel Prize Winner Calls Markets 'Irrationally Exuberant': 10/06/09 Stockholm, Sweden - Joseph Stiglitz, who won the 2001 Nobel Prize in Economic Sciences, has come out to say that investors are “irrationally exuberant” about recovery given US unemployment, which he believes will continue to rise. His perspective on “big bumps” ahead includes the still-weak housing market, commercial real estate, and too much consumer debt considering the current level of joblessness.

[Investing to Wealth] Stiglitz: Risk of Irrational Exuberance | Investing to Wealth: “There’s a lot of risk going ahead of some big bumps,” he said today in a Bloomberg Television interview from Istanbul, citing housing, commercial real estate and consumers’ inability to pay off credit cards because of job losses. “There’s a very big risk that markets have been irrationally exuberant.”

[Signs of the Times] Stiglitz Says Markets 'Irrationally Exuberant' -- Signs of the ...: "There's a lot of risk going ahead of some big bumps," he said today in a Bloomberg Television interview from Istanbul, citing housing, commercial real estate and consumers' inability to pay off credit cards because of job losses. "There's a very big risk that markets have been irrationally exuberant."

[Market Minds] Market Minds » What Does the Economy Have to Do with the Market?: -Nobel Prize-winning economist Joseph Stiglitz > Far be it from me to challenge a 2 time Nobel prize winner, but sometimes, indeed, quite often, markets decouple from the economic fundamentals. I can show you many eras in history when the economy was awful, and nonetheless markets rallied strongly.

[Zionistgoldreport's Weblog] Stiglitz Says USA Economy Dead In The Water « Zionistgoldreport's ...: “There’s a lot of risk going ahead of some big bumps,” he said today in a Bloomberg Television interview from Istanbul, citing housing, commercial real estate and consumers’ inability to pay off credit cards because of job losses. “There’s a very big risk that markets have been irrationally exuberant.”

[San Francisco Sentinel] San Francisco Sentinel » Blog Archives » BIG RALLY ON WALL STREET ...: The Reserve Bank of Australia’s decision to boost the overnight cash rate target to 3.25 percent from a 49-year low of 3 percent followed the first expansion this year in U.S. service industries. Manufacturing in emerging markets increased the most in the past three months since the second quarter of 2008, according to the HSBC Emerging Markets Index of data from purchasing managers.

[Latest News] Hellenic Shipping News Worldwide - Online Daily Newspaper on ...: “There's a lot of risk going ahead of some big bumps,” he said today in a Bloomberg Television interview from Istanbul, citing housing, commercial real estate and consumers' inability to pay off credit cards because of job losses. “There's a very big risk that markets have been irrationally exuberant.” The likelihood that the U.S. economy will be “out of the woods” before most of the measures in the Obama administration's stimulus package expire in 2011 is “very small,” .

[DealBook] Is the Recent Rally Irrational Exuberance? - DealBook Blog ...: “One of the beauties of gold,” he said, “is that it just doesn’t have any statistical correlation with any other market or asset class.” There is one possible exception, he said: “When the world’s main reserve currency ”” now, the dollar ”” weakens, gold tends to strengthen.” Because the consensus in currency markets is that federal borrowing will weaken the dollar, this, too, has tended to benefit gold.

[상두야! 학교가자!] Stiglitz Says Markets 'Irrationally Exuberant' About Recovery ...: ¡°There¡¯s a lot of risk going ahead of some big bumps,¡± he said yesterday in a Bloomberg Television interview from Istanbul, citing housing, commercial real estate and consumers¡¯ inability to pay off credit cards because of job losses. ¡°There¡¯s a very big risk that markets have been irrationally exuberant.¡±

[The Asia R&R Blog] Bull or Bear: Rational or Irrational? « The Asia R&R Blog: “I would definitely tread very lightly in stocks,” she said. At the moment, there appears to be enough momentum to keep propelling the rally forward until it “stumbles on some speed bumps,”

[SurlyTrader] Does Bloomberg Have any Editors? - SurlyTrader: Besides, Bill Gross had good company when today, Nobel Prize winning economist Joseph Stiglitz said, “There’s a lot of risk going ahead of some big bumps…There’s a very big risk that markets have been irrationally exuberant”.  His main concern was with unemployment, saying that economic growth this year and next will “fall well short of what we need to stop unemployment from growing”.  What an optimist.  Luckily Bloomberg shoved that story to the bottom of the top news and kept the cryptic Bill Gross headline up top.

[The Irish Economy] The Irish Economy » Blog Archive » A Chartered Surveyor's View on ...: The testimony was worrying re the trough, his selection of cycles and trends should exclude 2000 onwards due to the irrational exuberance of lenders / developers and I estimate at least a further 20% fall in resi property prices (though my opinion is worth little as a non expert) for many, many reasons that I won’t bore anyone with!

[Felix Salmon] Felix Salmon » Blog Archive » Why the efficient markets hypothesis ...: They worked well too (a few early bumps like Merrill and Orange County, to name just one.) Gained adherents, brought in clients, made money.

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