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Cavuto All But Ignores Bad Economic News - Falsely Blames Dow's Fall on Iran

Reported by Melanie - March 26, 2007

One thing I've noticed during my years of monitoring Neil Cavuto is that even when news that is bad for the Bush administration comes out, Cavuto always, yes, always reports it -- sort of. He says just enough so that he can't be accused of hiding it, but he doesn't tell his audience the whole story. He keeps the meat of the news to himself so his audience will remain in the dark as to the big picture and so the Bush administration will continue to shine in the eyes of his viewers. And in a best-of-both-worlds scenario, he'll use the bad news to push Bush's agenda, which is exactly what he did today (March 26, 2007).

The big, big headline in the U.S. business community today was the Commerce Department's report showing that new home sales fell unexpectedly to their lowest rate in seven years which, according to Bloomberg, "dimmed prospects for a quick rebound in real estate." "Weakness in housing 'has the potential to spread and derail the Fed's scenario that housing and manufacturing will bottom in the first half 2007 and the economy will re-accelerate in the second half...'"

The Associated Press said these numbers raised, "fears about the health of the overall economy."

So, just how did Cavuto relay this information to his audience? Here's what he said at the top of his show over a graphic that read, "HITTING $TOCKS!"

Well, they are British hostages in Iran and now they are hitting stocks in the USA. For a while, very hard, almost everywhere else [sic]. Why it could get worse.

After introducing himself and rattling off a list of some of the other topics he would cover, there was a FOX NEWS ALERT and Cavuto continued over a graphic that read: "Stand-off Continues!"

Alright. A Fox News alert for you. Oil prices have been rising. Stocks falling big time for a while today then coming back late in the day. Tensions between Iran and the West heating up, causing crude to briefly top 63 bucks a barrel.
The crisis involving the abduction of those 15 British soldiers by Iran continues to have a heavy impact across the globe and all the way to Wall Street. Now, as you can see, we're down about 12 points on the day. For a while, off more than a 100 points. We had some very weak housing numbers out that didn't really help matters any. We're gonna be looking at the financial fallout from all of this shortly. Suffice it to say though, a whipsaw day in the Dow which had an ending today kind of where it began and it was all the drama in between [sic].

(My emphasis.)

Comment: That one sentence was the only thing Cavuto said about the housing numbers which were responsible for the drop in the Dow today. After this intro, he moved on to four -- yes, four -- segments about Iran (don't forget, this is Fox's "premiere business news" show), thus emphasizing that the drop was due to that "crisis." So, today was a twofer for ol' Neil: He adroitly blew past the bad-for-Bush economic news and then spent four segments stoking fear and loathing of Iran. I'm sure the White House is pleased.

UPDATE/11:22 p.m. EDT: This post is closed due to an abundance of off topic comments.


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