Current TV’s Cenk Uygur (a former MSNBC host) got testy with free-market advocate, financial analyst, and self-declared “one percenter” Peter Schiff over whether America currently has a ‘ centrally planned, socialist economy.’

In a segment that in many ways echoed the “Occupy Wall Street” inequality meme, Cenk joined the fray with:

“You say that it is the government that is the problem … you say you are against the bailouts. But why do you think the govt does that? … Because they are bought by the bankers.”

Schiff countered by pointing out the role of government in creating and perpetuating this cycle of corruption.

“If you want to stop that, you’ve gotta take the power away from the politicians,” Schif replied. That led to some shouting from Cenk. Eventually, however, Schiff continued by pointing out that the economy we have now isn’t as capitalist as some might think: “We don’t have the benefits of capitalism anymore because we don’t have capitalism, we have a centrally-planned, socialist economy and that is why the average American is getting poorer.”

At the mention of America’s “centrally planned economy,” Cenk’s head nearly explodes, and he decides to cut off and dismiss his guest, saying to his studio crew:

“I’m done with that load of crap, okay Peter, I’m done with you. No no no, you guys don’t get it [saying to his crew], I’m done with him, he’s done, move away, bring him down, he won’t shut up and he doesn’t listen to facts.”

After killing his own segment, despite the fact that both men seem to agree on the ills of crony capitalism, Cenk promised to give his audience the real truth with an “independent analysis” of U.S. tax rates on his web site.

Cenk closed with a diatribe: “He wants to blame the government for the problem, but he knows it’s his banker friends who have given those donations, who buy their senators, who buy their staff members, so they can get more money. … Socialism my ass!”

Check out heck out the fiery exchange below, courtesy of Current TV: