http://www.mrc.org/bmi/commentary/2005/Commentary_The_Media_Say_the_Economy_Is_Horrible_So_It_Must_Be_True.html
Herman Cain, the KC Federal Reserve Chairman, wrote glowingly on how strong the economy was. Ron Paul said we were on the brink of the bursting of the housing bubble and the dollar was about to be seriously devalued (prices will rise). Looks like Dr. Paul was right (I own two houses - I guarantee you Dr. Paul was right and Cain was naive). Here's what Cain said:
You could write a book just on how poor the coverage has been of the alleged housing bubble. The media have been foretelling a massive bust in housing prices for months now. On May 19, ABCs Elizabeth Vargas said: The run up in housing prices is now beginning to look something like the boom in Internet stocks, and we know what happened there. That kind of ignorance makes homeowners fear that their most expensive possession could turn worthless overnight. That wont happen
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