Shiller does it again?

One of the few prominent establishment economists warning of the US housing bubble as early as 2005, now saying housing bubble in BRICs and Canada (primarily).

http://www.bloomberg.com/news/2013-09-05/shiller-warns-of-housing-bubble-after-225-surge-brazil-credit.html

Could be the predicted "backwall of the hurricane". Are the so-called "fortress balance sheets" (printed up courtesy the Fed, some would argue, for this express purpose) of US banks enough to weather another melt down? European banks are certainly vulnerable. If Europe and emerging markets collapse the US might be the port in the storm, even as it gets hit too.