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Rupert Murdoch Says Recession Is Likely

Reported by Marie Therese - December 16, 2007 -

During Saturday's edition of Cavuto on Business, host Neil Cavuto - the pollyanna pundit of perpetual profit for FOX News and the new FOX Business Network - aired a clip in which he was broadsided by boss Rupert Murdoch. During a congratulatory interview taped on Thursday, December 13th - the day he became destroyer-in-chief of Dow Jones and its subsidiary, The Wall Street Journal - Murdoch actually admitted that recession is a definite possibility in the near future. He then went on to argue strongly for continuation of tax cuts for the wealthy, while admitting that the real estate markets will take three to five years to recover. Cavuto reacted in disbelief, which is not surprising since he's spent the bulk of his FOX airtime selling, selling, selling the good news that the American economy is firing on all cylinders, god's in his heaven and all's right with the world! With video.