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FOX Business Panel Denigrates Market Expert Whose Pessimistic View Conflicts with the FOX "Smiley Face" Brand of Business Analysis

Reported by Marie Therese - August 21, 2007 -

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!

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.

You can view the CNBC video here.