It's amazing how greed can blind so many people to what is now perfectly obvious: the fundamental rottenness of the U.S. economy.
That's the lesson of this 10-minute Fox News reel, which has nothing to do with right-wing bias and everything to do with greed bias. It gathers clips from 2006 and 2007 of Peter Schiff, president of Euro Pacific Capital Inc., predicting in uncanny detail exactly when and how the U.S. would dive into a serious and long recession.
Every anchorperson and guest (including Ben Stein, ably proving that he is NOT the smartest man in the world) shows not just an unwillingness, but an alarming inability to consider that Schiff might be right: the real-esate market had to tank, and would take down the broader consumption-based U.S. economy with it.
This is must-see TV.
It would be more comedy than tragedy if so many Americans weren't in so much pain right now.
(Hat tip to Andrew Sullivan over at the Daily Dish.)
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Jeremy Gantz is an In These Times contributing editor working at Time magazine.
