He saw the Housing Bubble Coming

Posted by: Liwin Troy Lee

Some forecasters were prescient; financial leaders weren't.

The current economic crisis is raising many legitimate questions about the failure of economists and financial analysts to foresee the housing bubble and warn of its collapse.

There were, in fact, many warnings dating back more than seven years--but in the euphoria of rising home prices, no one listened. As time went by and no crash occurred, many of those doing the warning lost credibility or decided that perhaps they were wrong and moved on to other issues.

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The Housing Bubble Explained

John Smith

Last week, President-elect Barack Obama's "Yes We Can" slogan became, "Maybe We Can," when it comes to fixing the economy. That seed of doubt should force the incoming president to re-evaluate his economic stimulus package before pushing it through Congress.
The Obama stimulus package reads like a political compromise giving Republicans and Democrats the two things each holds most dear: tax cuts and spending increases. The rest looks like a retread of campaign policy papers repackaged as a boost to the economy. After all, anything the government does will be good for the economy, some believe.

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