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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: David Jones who wrote (38355)	8/17/2005 10:28:39 PM
From: shades	Read Replies (3) \| Respond to of 306849

Now Now David - don't go questioning Shiller, CR says he is one of the finest economists of our day. Wasn't shillers intent to transfer the future crashes away from the poor homeowner and onto the richie mans account who can absorb the loss without serious reduction in standard of living? Transferring the risk onto those most able to bear it? But see shades think like you David, he suspect Shiller full of shit if he think that how it would really work, because shades remember LTCM boys and remember recent bankruptcy legislation and who is really ultimately going to pay is the poorest least able to pay - and we all know like Rage Against the Machine say - our current 2 party system would socialize the damage on poor person some way shape or form no matter what shiller in his fantasy world of ivory towers and honest people and non corruption believes. I am convinced if shiller had his house derivative market, and a big crash was coming, the rich would find some way to socialize the loss no matter what safeguards shiller thought he could build in. Academics are great, theories are wonderful, quantum physics has many followers, but like Dr. McCoy I don't feel so safe using the implementation of that knowledge and stepping into the transporter.