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$5 Gas? $100 Oil? Fox's Senior Business Anchors Say No Problem!

Reported by Melanie - April 18, 2006

One would think that business news correspondents and anchors at major television "news" stations have some expertise in the world of business, finance, and economics, wouldn't one? Fox's senior business people may have expertise in those areas but you wouldn't know it by watching Fox's "premiere business news" show, Your World w/Neil Cavuto today (April 18, 2006).

The second segment of the show consisted of a roundtable discussion by cast members from Fox's Saturday morning "business news" show, Bulls & Bears. It was titled, "Can America Handle $100.00 Oil and $5.00 Gas?"

Other than Cavuto, who is the host of Your World and a vice president at Fox News, the guest on the panel with the most seniority was Brenda Buttner, the host of Bulls & Bears and Fox's "Senior Business Correspondent." This is what Fox's "Senior Business Correspondent" said about the prospect of $l00 oil and $5 gas:

We were up 200 points because the economy is going to well.

This is how -- if we were to go to $5 gas and $100 oil right now we would -- we would survive. You know why? Because we are a great, free market. Some people would be hurt...[talk over]. We would be less afraid of a caribou, we should be less afraid of the caribou and more afraid of Iran's nut case president.

Interrupting other guests, Buttner yelled,

Come on! Believe in our economy!

Cavuto asked her if she thought the Federal Reserve has stopped raising interest rates:

Yes! You look at -- you see inflation's tame. You say, we're gonna end soon!

At the end of the show, Mr. Senior Business Guy himself left viewers with the idea that today's high oil prices actually caused the Dow to rise in this promo he gave for a segment he'll do tomorrow:

Then, taking a look at those high energy prices, why some say they could actually be good for the economy. They did translate into a nearly 200 point run up in the Dow today.

Comment: Per Bloomberg:

U.S. stocks staged their biggest rally in a year after the latest Federal Reserve minutes encouraged speculation that the 21-month-old policy of higher interest rates may be coming to an end.

I rest my case. You don't get promoted at Fox News because you know your stuff. You get promoted because you know your spin.

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