This is a depressing collection of short clips on the economy from Fox News. I know — why would anyone want to watch that?
These are from a year to two years ago. They’ve all got this fellow, Peter Schiff, who is explaining that our debt, our artificially inflated real estate market, and various other problems are going to throw us into a recession, the stock market is going to tank, and we’re going to face a financial crisis (he’s a real Cassandra, and like Cassandra, he was right). Fox News throws in a series of their pet analysts, including the odious Ben Stein and that awful Art Laffer who has been afflicting our country since Reagan, and they’re all laughing at him and promising a coming economic bonanza — like that the Dow will hit 16,000. It’s horrible and fascinating at the same time to see how bad the Fox talking heads are at their job.
These clowns, except for Schiff, have flopped spectacularly and clearly represent an invalid mode of thinking about the economy…but if you turn on Fox News now (not that I recommend it), you can still find these same incompetents populating their financial advice programming.