Ben Stein, on the money - ours as well as his

Ben Stein, on the money - ours as well as his:

"QBen Bernanke took the helm as Fed chairman Tuesday and raised interest rates a quarter of a point. How do you think he'll fare as fed chief and what kind of actions do you think he'll take in the coming year?

A Any time there's inflation, raise interest rates aggressively until the demon goes back into his cage. I think he will succeed. But we have such a strong economy and such a labor shortage that it may take more increases than people are predicting.

QWhat are your economic predictions for 2006?

AI think the housing market will continue to decline. We're coming off the biggest housing boom in 15 years. I think we're way overbuilt and overpriced. Everything is ripe for a fall. There's already been a substantial decline in many parts of the country and a dramatic rise in inventory, including in South Florida.

QWill it be like a bubble bursting? Or a slow deflation?

AThe signs are there for a prolonged slowdown. Whether they'll be a bursting like in the early 1990s, that's hard to say. That was interest rates accompanied by a severe recession. This time around I don't see recession in the cards. The fact is, there will be a correction; at this point you can't avoid it."