When do you think this was written:

"...at some point in a...boom all aspects of property ownership become irrelevant except the prospect for an early rise in price. Income from the property, or enjoyment ot its use, or even its long-run worth are now academic...[they] may be non-existent or even negative. What is important is that...market values will rise...and a profit can be realised."

Sound like credit-default swaps to you?

It was written by J K Galbraith in 1954 in 'The Great Crash 1929'

But nobody saw it coming in 2007?