Tuesday, January 03, 2006

Wall Street Conventional Wisdom (Or Another Installment of Breathtaking Inanity)

Floyd Norris of the Times' business page gets a mention on Polis for helping with today's installment of "breathtaking inanity." From an article titled, The Wisdom of Wall Street? Sometimes It's Wrong (the title alone conjurs up a snicker):

"As 2006 begins, the great American housing boom is going to weaken, if not collapse. But that will not hurt the economy very much, and growth will continue at a good pace.

Or so goes the conventional wisdom."

In Mr. Norris' able hands, this absurdity somehow comes out to seem not quite so absurd. Read the whole article and judge for yourself. But I ask thee, have we once again lost our minds? I've said it before, and I'll surely say it again: "breathtaking inanity" is the new "irrational exuberance."