Shiller sees 50% chance of US double dip

Robert Shiller, architect of the famous Shiller P/E ratio and co-developer of the Standard and Poor's S&P/Case-Shiller home price index, says there is a 50% likelihood of a US double dip.

The professor of economics at Yale University believes the American economy may be on a precarious path. "For me a double dip is another recession before we have healed from this recession. The probability of that kind of double dip is more than 50%" Shiller said. "I actually expect it." While house prices have rallied strongly in many areas of the US over the past year, Shiller says he is unsure of the future direction. "I do not know," he adds. "I am taking a 'wait-and-see' attitude."