Treasury Secretary Hank Paulson (1/7/08):

“After years of unsustainable price appreciation and lax lending practices, a housing correction is inevitable and necessary,” Paulson said.

I wonder, was it too much for AP economics writer Martin Crutsinger to remind everyone what the wise and credible Paulson said less than a year ago?

“All the signs I look at” show “the housing market is at or near the bottom.” The U.S. economy is “very healthy” and “robust.”

Why won’t Media Groundhog Day ever end?