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Your (Only if the News is Good for Bush) World w/Neil Cavuto

Reported by Melanie - January 4, 2005

The stock market took a dive today (January 4, 2005) after minutes from the December Federal Reserve meeting were released. In the minutes, "the Fed" said, "a drop in productivity growth, a weakening dollar and high oil prices could all contribute to inflation, and they hinted that interest rates may have to rise more aggressively to strengthen the dollar and curb inflation." (New Inflation Concerns Drive Stocks Lower.) The Dow fell 98.65 points today and the Nasdaq fell 44.29 points.

I think we can all agree that this is significant news for the business community. Several financial programs I watched this afternoon and evening lead with it. Not Your World w/Neil Cavuto, the "number one business show on the planet," which proved today that it isn't a business show at all.

Fox's audience (at least those who read the banners) first heard about the Fed minutes through a banner at the bottom of the screen: "Stocks Drop as Feb Minutes Trigger Inflation Fears" which I saw at 4:34 p.m. ET. During a round table discussion (36 minutes into the program) Neil Cavuto turned to guest David Nelson and said: "David, there's a lotta worry going into this year, a lotta worry about how these Fed minutes that came out for the December meeting, that they really are worried about inflation, they really are worried about the falling dollar. Generally the rule of thumb is when the Feds worry, you should worry."

David Nelson took several sentences to say that nobody knows what will happen, and then Cavuto moved on to real estate prices.

COMMENT: Fox likes to pretend this show is a business show but it's as much about pushing the Bush agenda as any other Fox News show is. In keeping with its pro-Bush slant, it buried this very-bad-for-Bush news. This topic should have been covered in-depth, in the first five minutes of the program. Instead, Fox aired these segments before it got to its meager mention of this major business news story:

1. Which country is giving the most in tsunami aid money.
2. How great US corporations are because they're pitching in with donations too.
3. What US military assets are already on the scene in SE Asia.
4. Whether or not the US' image will improve as a result of the aid we're providing.
5. Dennis Kucinich on Iraq.
6. Report from Baghdad.
7. Segment on whether or not Iraqi elections should be postponed.
8. Will small cap stocks see big gains again this year?

For anyone who thinks Your World is a benign financial show, think again. Your World keeps up the pro-Bush and pro-US drum beat every bit as much as The O'Reilly Factor or Hannity & Colmes.

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