On Up with Chris Hayes, Peter Schiff upset the circle jerk when he wouldn't allow the panel to start their attacks on capitalism and Mitt Romney by relying on a false premise. The other guests, Karl Smith, Dedrick Muhammad and Betsey Stevenson, along with Chris Hayes, the host, established the premise that Ben Bernanke can end the recession if he wants to, but he's a Republican so he's sabotaging Obama so that Mitt Romney can win. Schiff attacked the premise that Bernanke can end the recession through Fed action -- in fact, Schiff stated that the Fed actions so far have made the recession worse and have blocked recovery, but the actions have been what Obama wanted.
Even the claim that Bernanke is a Republican out to get Obama doesn't make sense in so many ways I don't know where to start. First, Bernanke has been pouring money into the economy, thus artifically pumping up the economy enough to avoid the necessary pain of adjustment which is what recessions are about. Furthermore, and Hayes even showed this himself through a clip of Romney talking about Bernanke, Romney has said he will not keep Bernanke on at the Fed. Hayes also accused Schiff and Ron Paul of being anti-Fed, and then Hayes said that Paul has been influential in creating opposition to Fed actions in the economy. So, given all this, why would Bernanke want Republicans to win, if, as Hayes has implied, Bernanke is a political animal manipulating to pick winners and losers -- why would Bernanke work to elect the GOP when it will mean the end of Bernanke and Fed power?
Schiff didn't last too long on the show -- before too long, Hayes was saying goog-bye to Schiff and replacing him with Jonathan Alter who was probably hanging around MSNBC, who has him hired has a pundit, hoping someone would need his expertise.
Hayes showed his lack of character by allowing the panel to attack Schiff and Paul after Schiff had left, as they associated his ideas with "crazy" conservatives. This show is filled with the most partisan, biased, propagandist, faux-intellectual, obscurantist, BS I've seen in a long time. Hayes went on to rant against the likes of Bain Capital because they represent the current inequality between rich, business- owner bastards and labor. What Hayes fails to realize is that the very government he supports like a loyal, robotic, lackey has hurt workers by interfering in the market, becoming the primary cause of the housing bubble and bust, and, in the recession, government have intervened in ways that have created economic stagnation. All this statist interference, just like has happened in Greece and Spain and other struggling, statist European nations, has hurt workers' ability to get good jobs and to negotiate good benefits. Good wages and good benefits come about when the economy is growing and new wealth is created, not when government is misdirecting capital into unproductive black holes or schemes that create bubbles and busts. Instead of realizing the need for a free market, Hayes and his pals are calling for Obama and the Fed to double down on vulgar Keynesian practices that have failed over and over, starting with their hero FDR who intervened for years, thus prolonging the Great Depression and making it Great to start with.
Hayes showed Romney's comments about Obama's gimmick of standing tall for cops, firefighters and teachers when in reality Obama is simply firing up the public sector unions because his campaign is imploding. What Romney is saying, and everyone knows it, is that Obama is concerned with state government hiring when he should be worried about what he's done to stagnate the private sector economy. Romney supports needed teachers, firefighters and police, but he doesn't support the public unions's lavish nest they've feathered for decades with tay-payers money.