Re: believe this.
The key words are "back then." By which I meant predictions in 2007 or earlier. Obviously, it's not hard to find references now talking about the economic crisis up through 2010 and beyond. Apparently a grand total of a dozen economists and commentators saw it coming prior to the crash.
Speaking of predictions, in January of 2009 we were told by Obama's economic experts that unemployment would not go higher than 8 percent if we passed the "stimulus" plan. Without the "stimulus," we were told unemployment would rise as high as 9 percent.
Here's Obama's complete document. I recommend printing it out and going over it with a highlighter to see how accurately liberal economics can predict the future.