No one likes the negative guy

Published Tue 07 April 2009 00:18 (+1200)

This is an excellent little video of 2006-2007 segments including economics guy Peter Schiff being a) 100% bang-on about what was going to happen to the American economy given how ludicrous their borrowing was and b) getting quite literally laughed at by all the other commentators who found it inconceivable that the debt-fueled boom would not pick right up and keep inflating:

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c/o Mark Jefovic who suggests:

I humbly submit that these idiots should watch themselves in this video, publicly apologize for leading their viewers astray, and quit the financial advisory business.

But of course, there are no consequences for giving ignorantly optimistic predictions, and it's certainly in your interests when you're a player yourself (conflict of interest isn't even a term US financial media pundits understand).