cheaprealty net

Shiller draws attention to the risk of financial innovation gone bad. Draws attention to a pervasive world-wide real estate bubble. Draws attention to a downward trend.

A long piece from UChannel that investigates, from an academic perspective, what is happening right now. There is a lot of agreement about where the situation is heading, with some emphasis on the problems created by speculation that grew out of exceedingly low rates.

The elemen of surprise is a common theme, as far as the changes that have overwhelmed the global financial system recently.

However, it wasn't really a surprise, as people like Shiller and others were warning about this danger - however, the warnings were generally ignored.