Quote:
Originally Posted by wind_magic
That's because Ben Stein rocks like Stonehenge.
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Reversals like this are what I find so worrisome. When the experts -- who were formerly so cocksure of themselves -- suddenly announce that they missed the all-consuming "blackhole" dimension to all of this, that's when I sense that things are out of control.
What I find even more distressing is that he opens his essay by saying that this is not the beginning of the Great Depression, that the sky is not falling. He then goes on to say that he missed this one giant detail that could sink us. Finally, at the tail end of the essay, he says: "We are in real peril."
What he's trying to say is that people who think this could be a new great depression are alarmists. He himself is not an alarmist, but that's only because he screwed up by overlooking the very thing (CDSs) that now warrants alarm.
Thank you, Ben Stein.