"As obvious as the financial crisis seems after the fact, few economists saw it coming (with some notable exceptions). Virtually none anticipated how sever it might be. In the fall of 2005, several prominent economists wrote in a prestigious journal, 'As of the end of 2004, our analysis reveals little evidence of a housing bubble'"
This passage particularly stuck out to me because it is scary that the people who have a job to try and see (and predict) this kind of thing had virtually no idea when it happened. Even more scary, however, is the fact that some of them still were denying it when there was evidence of it right in front of them. It really shows how unpredictable the world can be.
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