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Some "Liberal Media" Seeps Into Neil Cavuto's Show

Reported by Melanie - October 19, 2007 -

Today's big drop in the Dow -- 366.94 points -- couldn't have come on a better day for Neil Cavuto. This is the 20 year anniversary of the l987 "bloodbath" when the Dow dropped more than 508.33 points, or 22.6%. It was the largest one-day percentage drop in history, and Cavuto used it to illustrate that what happened today (October 19, 2007) was nothing...that is until Carl Icahn came along and rained on his parade.

Cavuto reported live from a rainy Times Square (named after after that alleged bastion of liberalism, the New York Times), where, according to Cavuto, the economy is doing so well that people are paying $20.00 for corned beef sandwiches. He was upbeat and optimistic as he opened (and throughout) the show. He put today's closing numbers "in perspective," saying that, "the drop we had 20 years ago was close to 24%. That was a 508 hit then. It represented a quarter of the Dow's value. Today a drop off that represents about 2.5%."

So why worry, huh? Other than a segment featuring Christopher Gardner, who said he is alarmed that so many Americans are concerned about the economy and predicted that six months from now Americans will be sneaking across the Mexican border to look for jobs, the show celebrated how far we've come since those dark days in l987.

Cavuto hosted a NY restaurant owner who said business is booming. He chewed the fat with Elaine Garzarelli (remember her?) who said, "This is an investment opportunity." He reminised with John Phelan who was the chair of the NYSE in l987. Michael Reagan and Frank Luntz were on and he moderated a roundtable discussion with four women (Cavuto and his harem), who, when asked what the "biggest risk" is right now, said "people are not in the market," and the "weakness of the dollar."

Minutes remained in the show when Cavuto introduced "legendary investor," Carl Icahn, who appeared by phone. That's when reality struck. Icahn said he thinks "there are certainly a lot of problems right now." He said, "there are a lot of things you have to be concerned about... Our economy, I think, has been, you know, has been very much in sort of a perfect storm for the last decade or so." We've had, "a lot of cheap money" and "cheap goods," and I think that's "going to be curtailed." We've "had a lot of great things going on for a long time and I'm not sure that they're going to stay."

Oops. Cavuto was out of time.

Comment: One of the segments on today's show featured Fox reporter Jenna Lee. She interviewed two people "on the street" in Times Square. One of them said he thought the economy was doing just fine, thank you very much, but the media isn't report it (he must watch Fox). That's Cavuto's mantra too so is it any wonder he usually sticks to politics? When he has serious guests on to talk about the economy, the news isn't good and his meme about how the "liberal media" is trying to bring Bush down by reporting how bad things are falls flat on its face.