Actually I need to defend my boy Shiller, he’s involved in the case/shiller tracking index and the housing futures market on the cme. It borders on unethical for the guy that is taking the bets to tell you where to bet. I read any interviews and watch anything he says and you have to decode him, sometimes he smirks and refuses to answer the question because he knows he shouldn’t be spinning or postulating, just stating the facts. His problem is that he is a total fundamental guy, in 2004 he said that it was getting out of control and issued warnings, then again in 05, then in 06, now everyone wants his opinion. I’ve heard people say he just always makes warning and occasionaly they turn out to be true, I disagree, I think when we look back in ten years we will see that he was right all along, things took a bad turn in 2004. Listen to Shiller but understand he is holding back, I think Shiller has a Roubini mask and when he wants to get raw he puts the mask on and goes on T.V., the accent is just to hide his voice. I fully expect to see a scooby doo episode where David Lereah goes “laces out” nuts and for ruining his career he kidnaps Roubini and pulls his mask off only to find Shiller underneath.
