Home Store In Memoriam Deborah Newsletter Forum Topics Blogfeed Blogroll Facebook MySpace Contact Us About

Oil Hit a New High Today but Fox's "Premiere Business News" Program Buried the News

Reported by Melanie - July 5, 2006 -

Oil prices climbed to a record high today (July 5, 2006) but if you weren't paying attention during Fox's "premiere business news program," Your World w/Cavuto, you'd have missed that rather significant news.

During a roundtable discussion with employees of Forbes magazine about what the market would have done had the North Korean missiles "worked," Forbes' publisher, Rich Karlgaard said,

You know, I think the market looks forward and discounts these possibilities way in advance. I take the market's retraction this week as more of an indication that inflation has not been killed. Gold is $625. Oil is hitting new records and ah, Ben Bernanke is going to have to keep going.

Craving some red meat, substitute host David Asman turned to Elizabeth MacDonald, a senior editor at Forbes and said,

Yeah, but Elizabeth, clearly North Korea had a lot to do with it being down today, with oil being up.

MacDonald didn't pull through for Asman either but at least Fox can say that yes, technically, it DID report that oil went up; it can squeak under the wire if anyone accuses it of hiding information that might make the Bush administration look bad. Still, the folks at Fox are undoubtedly praying that the price goes down so they never have to report actual numbers. Then again, that's what the scroll at the bottom of the screen is for.