I met Professor Robert Shiller when I worked at Fox several years ago. At the time, I thought he was pretty smart.
Boy was I wrong!!!
Here's the dude's greatest financial idea: He thinks the USA should issue "shares" so that it doesn't have to rely on debt. (Read here).
I'm speechless.
So Shiller thinks the USA has to raise money from investors to be able to pay for the things it needs to provide for its citizens? Seriously? The US needs to raise the very dollars it issues, through an IPO, to fund itself..wha? That's his big innovation? Anyway isn't taking money from its citizens called taxation? Doesn't it already do this?
They gave this guy a Nobel Prize.
Shiller is a freakin' idiot. This is our academic elite. And Forbes Magazine...what can I say? Utter garbage.
