You have to watch this video. It’s a compilation of Fox News economic experts (including that eponymous intelligent design movie maven, Ben Stein) laughing and dismissing the claims of Peter Schiff, head of EuroPacific Capital, who predicted the economic crisis we’re in now as long ago as 2006. All the other FoX investment experts mock him and his claims repeatedly. And then, led by Ben Stein they recommend in late 2007 that you should invest in Financial stocks like Merrill Lynch and Bear Stearns! Watch the whole video. It really gives you a flavor for the fantasy world that our conservative business elites were living in not so long ago:
You know what the sad thing about this video is? All these bozos who were spectacularly wrong about the housing bubble, the debt crisis and the effects of years of Republican economic policy are still employed as pundits, talking head economic experts, well compensated “event speakers” and investment advisers. I’m amazed FOX had Peter Schiff on its business programs at all, but I guess they saw him as comic relief for fat cat CEOs and investors, and as a cats-paw for their other “business analysts.” Too bad he was 100% right and the rest of these ideologues and greedy scam artists and stock touts were 100% dead wrong.
