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Keen, like many bears at the time, believed that all the stimulus in the world wouldn't help. The bears thought that the 40% crash was set in stone and nothing could stop it. Keen also expected the RBA to slash interest rates to zero, and yet he still expected house prices to crash by 40%...

The government stimulus had already been announced when Keen made his bet with Rory. Keen also expected even greater monetary stimulus - he expected ZIRP. So Keen had all the information at the time, and the goal posts were not shifted mid kick. Keen knew about the fiscal and monetary stimulus...

Well, I did get one thing wrong... I didn't call 2008 as a 'Bear Trap' year and expected prices to rise in 2008 as well. Still, 2009 more than made up for that!