Six Reasons a Noted Economist Is Less Bullish

This blog post originally appeared on RealMoney Silver on Oct. 4 at 8:12 a.m. EDT.

As we all know, contrary (bearish) thinking has its limitations, as the crowd usually outsmarts the remnants. What is significant, though, is when a previously bullish observer turns more cautious -- or vice versa.

Such was the case this week, as Bear Stearns (BSC Quote) Chief Economist David Malpass grew less bullish on the economy. Malpass has been with the brokerage house for almost 15 years. Prior to his association with the firm, he held a number of economic roles in the Reagan and Bush administrations.

I have always found Malpass to be a force of reason....