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Fox's "Premiere Business News" Program Withholds Significant Economic News

Reported by Melanie - December 8, 2005

Not long ago, Neil Cavuto and his cohorts on Your World w/Neil Cavuto were gleefully anticipating "Dow 11,000." According to their spin, Bush's tax cuts were working and the Dow was poised to bust through the 11,000 mark. When it did, we would sail on into a golden future where everyone smart enough to be invested in "the market" would prosper and live happily ever after.

Today (December 8, 2005), the big story on Wall Street was: U.S. Stocks Drop as Oil Tops $60; Dow Wipes Out 2005 Advance. According to Bloomberg, "Surging energy prices sent U.S. stocks lower, wiping out the Dow Jones Industrial Average's advance for the year."

Some of the topics covered today on Your World were the "war on Christmas," Victoria's Secret supermodels, a comparison of the Saddam trial to the OJ trial, how the shooting of the man on the airplane in Miami will help the airline industry, and the split within the Democrat party over withdrawing from Iraq. News about the Dow advances for the year being wiped out wasn't mentioned.

Comment: Fox's claim that Your World w/Neil Cavuto is a "business news" program is nothing more than a ruse. It's a "business news" program as long as the "business news" is good for Bush. Fox will eventually have to talk about oil prices and the Dow's yearly performance, but it may take a day or two for it to figure out how to spin it to Bush's advantage. Spinning this will be a delicate task in light of the frigid weather spreading across much of the nation and a new poll that shows Bush's ratings improving (Economy Lifts Bush's Support in Latest Poll) due to "more positive attitudes toward the economy."

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