One interesting outcome of the continued and persistent deterioration of the nations housing and mortgage markets is the eroding confidence of many formerly bullish experts and pundits.Some at this point, particularly the honest ones, have been able to express some marginal skepticism about the likeliness that the economy will be able to transcend the current housing dilemma unscathed.
Others, at the very least, have acknowledged that the housing story is bigger than originally anticipated.
Then there are the likes of Ben Stein.
In Sundays New York Times, Stein shows again that he is ready to exploit the narrowest of reasoned arguments in preparation of what I would consider unabashed and likely untrustworthy bullish optimism.
The truth is, the housing story has been consistently bigger than folks like Stein have anticipated and yet they continue to deride anyone who sees tough times ahead as Chicken Littles.
Am I alone in thinking that Ben Steins best work occurred during episodes of The Wonder Years and Rugrats?
UPDATE: Watch the ludicrous Ben Stein actually suggest that there are NO actual losses from the subprime meltdown on BNN now!
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[Source: Paper Money - A US Real Estate Bubble Blog]
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