You can’t turn on a financial news program without being bombarded by panelists as well as the hosts ready-at-the-draw to pounce on anyone with an opposing view as to the ‘effectiveness’ of the Federal Reserve’s quantitative easing program (QE).
Once again this played out just the other day on CNBC where this time it was Peter Schiff who found himself in the cross hairs of today’s version of ‘ambush the guest.’
You can agree or disagree with anyone’s viewpoint and I even encourage people to question mine if they see fit. However, you don’t have to be a rocket scientist to watch many of these anchors to witness for yourself what now has turned into all the appearances of – an ambush.
And the recurring foil used to defend their attack? (paraphrasing but it’s the gist) ‘You’ve been wrong about monetary policy for if you were invested in this market, you would be making money. And those who have listened to you have missed out. So won’t you now admit you were wrong?!’
Schiff wasn’t the first nor will he be the last and can defend his own calls and does so. But no one on these shows cares. And this is clearly visible for all to see in these exchanges.
You hear calls of ‘Admit it!, Admit it!’ over and over again as someone is trying to clarify a position. Clarify in the real sense of the word. Not obfuscate it as the hosts or other ‘guests’ are trying to imply by shouting over them.
It’s now gone from amusing to watch, to down right pitiful. Many times I’m left watching these hosts channeling that old quote, ‘Do you have no shame?’
This post was published at Zero Hedge on 10/29/2014.