FOX Stock Gurus Make Rosy Predictions Three Weeks Before Panic
Reported by Marie Therese - August 18, 2007 -
Sometimes it's a good idea to check back and see just how accurately FOX News' business experts predict the economic future. Here are a couple of clips from the July 21, 2007 edition of Bulls & Bears and Forbes on FOX in which all but three* analysts make incorrect predictions about the stock market. The rest, including Steve Forbes, painted an overly rosy picture of future stock market activity, one of them even predicting Dow 18,000! Naturally, there were the usual digs at the Democrats, including Tobin Smith's mocking mispronunciation of the word "moron" and Steve Forbes' blatant politicking on behalf of Rudy Giuliani. If this is an example of the level of business analysis on FOX News, heaven help anyone who watches the upcoming FOX Business Channel! With video.
As an added bonus, some of the comments are downright hilarious, in light of the economic meltdown that has occurred since these shows originally aired!
* Post updated 8-18-07 4:29 PM to correct a typo. - MT
