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Neil Cavuto's Slurping the Fox News Kool-Aid Again

Reported by Melanie - October 10, 2006 -

Sad thing is, that means his audience is drinking it too.

In a repeat performance of the run-up to the 2004 election, Neil Cavuto is claiming that, given the numbers on the Dow, Wall Street is signaling that it favors a Republican win in November, but this time he claims that despite North Korea, Iraq, Mark Foley and all the polls, what the Dow is doing indicates that none of that matters and the GOP is in fine shape, thank you very much.

In his opening promo today (October 10, 2006), after a full-screen graphic that read, "DOW NEW ALL-TIME HIGH," Cavuto said that an upcoming segment would include the gang from Fox's Saturday morning "business news" show, Bulls & Bears, and that they would tell us why, "all this North Korea talk is helping Republicans and, they say, stocks."

A few seconds later, over a shot of the "big board" with the final number still being tabulated, Cavuto said, "Well, it is looking in and out of record territory [up 9.36 points] yet again for the Dow. If so, it would be its fourth record in seven trading days. We're keeping a close eye on it." The chyron at the time read, "Stocks Hold Their Own After North Korean Missile Threat."

Several minutes later, over a graphic that read, "GOP A-OK?" and while heading to an ad and "news" break, Cavuto promoted the Bulls & Bears segment again: "[S]tocks at historic and record levels today. Is the market telling us that the GOP isn't in as much trouble as the polls say or just the opposite?"

After the break, Cavuto returned his new fave full-screen graphic: "DOW NEW ALL-TIME HIGH," and again promoted the economy and the Bush administration vis-a-vis the Dow: "Well, if the markets are worried about rising tensions with North Korea, they have a funny way of showing it. A record today. Oil a lot lower today. And, as we said, the Dow up 9.36 points. Good enough for a record, but barely so. 11,867.17. In case you're counting, [inaudible] average is up about 10-1/2 percent year-to-date."

Minutes later, another promo: "Well, if you think the Democrats have the election all wrapped up, why are stocks telling a different story? Or maybe they're acting the way they are precisely because that will be the end story. The Bulls & Bears crew on that" next. The chyron: "WALL ST'S VOTE!"

After an ad break and a short interview with Brit Hume to promote his show tonight, Cavuto headed to the next segment: "Meanwhile, poll after poll is showing that Democrats are hanging on to a solid lead just four weeks from the mid-term elections. Nearly 79% of folks surveyed in a Fox Business News dot com poll think that stocks will go down if Democrats take the house and/or senate."

Note: Since when are those who voluntarily vote in an on-line poll "surveyed?"

While Cavuto spoke, a full-screen graphic appeared showing Fox's "survey:" "How Will the Stock Market React if the Democrats Win the House and Senate? 79% - Go Down. Vote at www.FoxNews.com."

Cavuto continued and introduced the Bulls & Bears "gang" over a graphic that read, "Wall Street Indicator:" "So, with stocks near an all-time high, is Wall Street signaling, maybe, that the GOP has a shot?"

Charles Payne, the first of the five roundtable guests to speak, summarized what happened next: "Yeah, I think it is. You know, one of the things about the stock market, it is the best poll out there, bar none."

Comment: Humm. I checked Bloomberg and Forbes and didn't see anything about Wall Street sending signals about the GOP or the election or its lack of concern about North Korea, Iraq, Foley or any of the other stuff that's falling apart. As a matter of fact, instead of touting a new all-time high, Forbes said stocks were "flat."

Keep slurpin' Neil. The pity is that you force the booze down your audience's throat too.