Less Trust = Simpler Financial System “The more complex the transaction, the more trust is needed to sustain the transaction.” –Robert Shiller, “Animal Spirits Depend on Trust“; The Wall Street Journal (1/27/2009) Robert Shiller, the Yale economist who made his name calling the 2000 Stock Market Bubble, has an excellent piece in Tuesday’s Wall Street...Read More
David Lereah’s Kind-of Mea CulpaThough he’s hardly a household name, David Lereah — formerly the chief economist for the National Association of Realtors — achieved not a little notoriety for writing the extremely ill-timed (2005), “Are You Missing the Real Estate Boom?” For that, Lereah is forever assured a place in financial trivia Hell along...Read More
