During one such appearance on Fox News in 2006 he accurately described what was going on in the housing market and predicted the mortgage crisis that has since forced tens of thousands of people from their homes and numerous lending companies into bankruptcy. None of the other "experts" Fox called in to gang up on Schiff had a clue about the topic at hand, and Mike Norman, the most clueless in the bunch, couldn't refrain from ridiculing Schiff for his alarmist views:
Schiff was proven right, but did anyone listen to him? Nope. Another "expert" appeared with him on CNBC a year later to voice her support for the official government rhetoric regarding inflation:
We see this time and again from the "objective" mainstream media. Their idea of being "fair and balanced" is to make sure the government's side is heard.