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If You're Feeling Squeezed, There Must be Something Wrong with You

Reported by Melanie - August 14, 2007 -

Fox's head honcho "business news" guy, Neil Cavuto was off today (August 14, 2007). Former CNBC "personality," Alexis Glick, the second in command after Cavuto, substituted and frankly did a great job. So, there isn't much to report about today's show -- Glick hasn't been thoroughly Foxified yet -- but one thing did stick in my craw -- the total dismissal by one of the regulars of the squeeze average Americans are feeling these days.

The Dow was down 207.61 points today, partly on worries about citizen consumer spending after Wal-Mart CEO H. Lee Scott said Americans face ``difficult pressure economically.'' Fox's Gary B. Smith commented on that during a roundtable. Here's what he said:

I think, quite frankly, Wal-Mart is blowing smoke because of their bad earnings. I was just in a Wal-Mart a couple of days ago in Tennessee. No one handed a survey form to me. No one took some information to later email me some survey. In fact, I've worked in a lot of retail. I've never seen a, an organization or retailer send out a survey of how their customers are doing. It's funny, Wal-Mart did great when consumers really were suffering. And the times that consumers really do suffer -- and that's why I'm not worried now is -- when there's high unemployment or there's high inflation. We have neither of those now. I think Wal-Mart is just a case of bad management.

Other panelists happened to disagree -- today anyway -- but Smith's is a constant meme on Fox: citizens consumers are doing just fine, thank you very much, and if you're not, then there's something wrong with you, not with purported "experts" like Smith who live in an altered state of reality.