On Saturday August 18, 2007 in a rare departure,
Neil Cavuto invited a guest to appear on his weekly financial
show, Cavuto on Business, who had some very serious, very negative
things to say about the recent volatility in the markets and America's
role in the mess. Charles Payne angrily called guest Peter Schiff,
CEO of Euro Pacific Capital, "anti-American" merely
for suggesting that all is not rosy in the American economy. Other
panelists told him he that he didn't know what he was talking
about. He was shouted down and not allowed to speak. The "fair
and balanced" business experts obviously didn't really want
the FOX viewers to hear what Schiff had to say, even though a
year ago, Schiff accurately predicted the collapse of the housing
market. With video.
Cavuto's disdain for his guest was evident and was, once again,
a reminder that the new FOX Business Network is going to be populated
by analysts who are more like toothy, glad-handing used car salesmen
than in-depth financial experts.
The day before this farce, Peter Schiff appeared on CNBC, a real
business news channel and while host and the other guests clearly
did not agree with his "apocalyptic" economic predictions,
he was allowed to finish sentences and complete thoughts. Wow!
Now there's a thought!
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Schiff's essential contention is that America is on the brink
of a deep recession, one that will be generally limited to this
country and, after an initial bumpy patch, will not appreciably
be felt in Asian and European markets as they reach out to market
their goods to each other.
