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Fox News is in a Persistent Vegetative State

Reported by Melanie - April 1, 2005

The only topic covered today (April 1, 2005) on Your World w/Neil Cavuto was the impending death of Pope John Paul II. Linda Vester, the host of Dayside w/Linda Vester was the substitute host.

Comment: It's incredible how much news has been unreported on Fox and the other cable "news" networks during the last several weeks. Now that poor Terri Schiavo has died and we've moved off wall-to-wall coverage of that, it looks like we're sliding directly into another long period of wall-to-wall coverage, this time of the ceremonies surrounding the funeral of Pope John Paul II.

So much is happening in the world that the average "news" viewer knows nothing about. Whatever happened to the resolve the networks showed after 9/11 to devote more time and attention to world affairs? I have no doubt that if and when there's another terrorist attack, we'll again hear that naive cry: "Why do they hate us"?

At any rate, in case anyone's interested, here's the economic news that Your World watchers didn't get today (I'm sure the Bush administration is thrilled).

The Dow closed down 99.46 points, ending at 10,404 (in early March it was climbing above 10,900).

The Nasdaq fell 14.42 points and closed at 1,984.8l (in early March it was pushing 2,100).

Oil rose above $57.00 for the first time in the history of the planet, and closed at $57.27.

Growth in Job Market Slowed Considerably in March, with only about 110,000 jobs added. This was the smallest gain since last July and it was half of what Wall Street predicted. I wonder where all that job growth is that GW promised.

During what was supposed to be Your World I flipped back and forth between CNBC and Bloomberg and heard these comments:

There is an obsession with inflation concerns.

There's weak job growth.

It was a tough week.

The Nasdaq is at closing levels we haven't seen since October.

The traders were bullish about the start of a new month but after the employment report came out this morning that all fizzled.

Oil is a big factor but the market has become obsessed with inflation.

The employment numbers were way off of expectations.

The economy is growing very rapidly, not slowing.

Higher energy prices are making employers reluctant to hire workers.

Expectations of an overheating economy are going to start doing damage.

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