Well Ben may be right. We will see now won't we ?
However the markets have now factored in the (real) possibility of a far-reaching credit crunch.
For an opposing view take a look at this...
America follows Japan's misguided path - MSN Money
The author (Bill Fleckenstein) is a bit of a Chicken Little for my tastes, but he may have some valid points. Ben Stein's article is kind of a cheerleader for the status quo and poo-poohs some potentially serious problems with the market over the near term.