The result, all the way up from sub-prime mortgages to the bond market itself, was that the system was awash with financial products which were massively overvalued, all guaranteed by what were, in the end, equally worthless ratings.
The tumbling ruble and the drop in the price of oil have helped steer Kazakhstan's economy into a cul-de-sac, slowing growth projections, forcing officials to recalculate the budget, and suggesting the tenge is overvalued.
Like others, Ani feels that renting has been "stigmatised" in the same way that buying had been "overvalued".
Buying a Big Mac in Switzerland costs $6.38 at market exchange rates, suggesting the Swiss franc was about 33% overvalued.
Over in the US, Federal Reserve chair Janet Yellen repeated rates would rise when the economic data improved, but comments from the central bank that some social media and biotech stocks were substantially overvalued hit shares in those sectors.
In a report last year, the OECD (Organisation for Economic Co-operation and Development) said Spanish property prices were still overvalued by more than 10% – although it added that French prices were around 20% too high while British houses are 31% overvalued.
The view in Davos was that most Internet stocks were grossly overvalued; on the other hand, breakthroughs in information technology have reduced costs, and are raising productivity throughout the economy.
But at $30bn, Twitter looks wildly overvalued.
Empathy cannot be overvalued, after all.
Notably, Robert Shiller of Yale gave an early warning that America's housing market was dangerously overvalued.
A net 84% of managers think bonds are overvalued and as a consequence, a net 54% are underweight the asset class.
