Pure Idiocy From Fox News On The Stock Market

OK, just about anyone with a functioning brain already knows that Fox News is a biased player working on behalf of the GOP. But their analysis of financial matters and stock market activity is not just biased, but astonishingly stupid. Yesterday on Fox Nation they posted this “news” item: Romney Rally? Stocks Close Higher One Day After Debate.

Fox Nation Romney Rally

Any time someone makes projections based on a single day of activity it is regarded by professionals as naivete and/or ignorance. So it goes without saying that Fox did just that. On the Fox Business Network, Stuart Varney dropped this mind-numbing stupidity: “Some will say this is a Romney Rally.” And Fox’s Lou Dobbs said “This is the beginning of what will be an even bigger Romney rally as the days unfold.”

Of course, any credible economist knows that market activity is based on a variety of financial data. Yesterday there was an abundance of factors to which the market’s movement could be attributed, including better than expected economic data and the European Central Bank’s freeze on interest rates at 0.75 percent.

Fox has a long history of making idiotic assessments of the stock market. In May of 2009, Brenda Buttner gushed, “Call it a tea party rally. Wall Street’s sure partying, up six weeks in a row.” In September of 2011, Fox Nation reported “Stocks Tumble Worldwide After Obama Speech.” Then in June of 2012, they fantasized that “Stock Market Drops After Obamacare Upheld.”

This tendency of the right to misinterpret all market activity as being the result of Obama (if stocks go down) or some conservative (if stocks go up), extends all the way back to Rush Limbaugh’s nutty commentary on February 8,2009, a mere two weeks after Obama’s inauguration, when he said “The Obama recession is in full swing, ladies and gentlemen. Stocks are dying, which is a precursor of things to come.” Since then stocks have died to the tune of doubling from about 6,600 to over 13,500. Nice call, Rush.

Even Mitt Romney got into it a few days ago saying that “If it looks like I’m going to win, the markets will be happy. If it looks like the president’s going to win, the markets should not be terribly happy. […] Without actually doing anything, we’ll actually get a boost in the economy.” Romney, who considers himself an expert in finance, thinks the markets will advance by doing nothing. His magical name alone will rescue the economy.

What they commonly miss at Fox is that markets traditionally perform better under Democratic administrations than Republicans. And note that that link is to an article on the Fox Business Channel’s web site.

The one lesson that people can take away from this display of ignorance, is that anyone who relies on Fox News for economic advice deserves the economic ruin they suffer.

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Debate Wrap-Up: Obama Limps, Romney Lies

The first debate of the 2012 election is history and the way the press covers it will tell us a lot about whether they are more interested in style or substance.

In a couple of snap polls last night, Romney came out on top with a big 2-to-1 advantage. It’s important to note however, that these polls only surveyed people watching the debate, not the electorate at large. Most Americans were not watching the debate and will develop their opinions from the media coverage. In 2008 about 52 million people watched the Obama/McCain debate, but more than 133 million people voted that year. Even so, in CNN’s poll a plurality (47%) of those surveyed said that the debate would not change how they planned to vote. Of the remaining respondents 35% were swayed to Romney and 18% to Obama.

What is most significant is the difference between the candidates in terms of substance. While Obama missed several opportunities to raise pivotal issues like unions, women’s rights, Bain Capital, tax returns, or immigration, he was cogent and factual. Romney, on the other hand, avoided any specifics (as he has done throughout the campaign) and left a trail of lies. For instance: his insistence that his tax plan would not result in a $5 trillion dollar deficit; his claim that his health plan would not raise costs for seniors or affect anyone over 55 years old; his denial that his Medicare plan was a voucher program; his assertion that he would not reduce the taxes on the rich; and many more.

HIGHLIGHTS

Most Hypocritical Moment:
Is this the same media that is “in the tank” for Obama?

Fox Nation Consensus

Most Delusional Moment: Mitt Romney asserting that he was a bipartisan governor in Massachusetts. That is not how Democrats recall it. He was considered to be aloof and dismissive. He couldn’t remember the names of legislators much of the time. And he reserved one of the elevators in the state house for his exclusive use. I guess he didn’t even want to ride up to his office with those peons.

Big BirdSaddest Moment: When Romney reiterated his determination to kill Big Bird by defunding public television. This is something he has said repeatedly, despite the fact that it would only reduce the deficit by a tiny fraction. I analyzed this last May in a column where I wrote that…

“Despite his denials, killing off Big Bird is precisely what his plan would accomplish. There is a reason that commercial TV does not produce the sort of programming seen on PBS. For-profit networks have to cater to advertisers in order to stay in business. By necessity they are more concerned with generating profit than with quality programming.”

That was followed with a glimpse of the programming on cable networks that were supposed to compete with PBS. It is “a jumble of insipid reality programs that repeat ad nauseum.” Truly embarrassing fare like Top Chef, Toddlers & Tiaras, and Real Housewives. Not exactly educational TV.

Obama’s Best Moment:
“I think the American people have to ask themselves is the reason that Governor Romney is keeping all these plans to replace secret because they’re too good?”

Obama Debate Question

What occurs in the press for next few days will have a bigger impact on the election than the actual debate. Since most voters did not watch the debate, their impressions of the encounter will come from the media analysis. Will the media focus on style, where Obama seemed to be less aggressive and engaged? Or will they focus on substance, where Romney loaded his performance with falsehoods and contradictions? Time will tell.


Conservative Media Hype Old Obama Video: When All Else Fails, Resort To Racism

With Mitt Romney’s campaign flailing desperately to avoid a massive blowout next month, the conservative media that is frantically trying to prop him up are running out options. They’ve tried to turn the unrest in Libya into Obama’s Watergate. They’ve tried to transform out-of-context snippets of Obama’s speeches into scandalous gaffes. They’ve tried to dismiss all of the polls showing Obama ahead as products of a liberally biased media. None of that has worked to reverse the decline of Romney’s electoral prospects.

So what is a determined right-wing press to do when all of their best efforts to torpedo President Obama have crashed in flames?

Fox News

Resort to racism, of course. Led by the Daily Caller and the Drudge Report, and buttressed by Fox News, the right is now hyperventilating over a five year old video of Obama talking about the well-documented failure to adequately respond to the devastation caused by Hurricane Katrina in New Orleans. They think that people have forgotten about George Bush’s deadly neglect and his praise for FEMA crony Michael “Heckuva Job” Brown.

Contrary to claims that this is a shocking new video, Obama’s speech was covered at the time by most of the press, including Fox News. Even the Daily Caller’s publisher, Tucker Carlson, reported on this video when he anchored a program on MSNBC. The feverish presentation of this video is nothing more than a transparent attempt to manufacture controversy where none exists.

However, there is another objective here on the part of these video-hypers. Since the content of the video contains references to race, they see this as an opportunity to portray the President as obsessed with the issue. Much of the discussion in the rightist media is about whether Obama was blaming racism for the poor response to Katrina (as if that would be shocking). They are also focusing on a portion of the tape where Obama acknowledges his former pastor Rev. Jeremiah Wright, who was in the audience. Glomming on to Wright is not an accidental brush with the past. Conservatives have been prodding Romney to adopt that as an issue since at least last May when I compiled these quotes:

Fox Anchor Chris Wallace: As far as Rev. Wright is concerned, I think it had a lot of relevance, and I think McCain was crazy not to bring it up.

Radio Talker Mark Levin: Why would you take any issue off the table, particularly issues that give us a look into this man’s character?

Fox Anchor Sean Hannity: I believe that the president’s relationship with the Reverend Jeremiah Wright, a man that influenced him for over 20 years, inspired him, is a very important campaign issue.

Fox Host Kimberly Guilfoyle: I don’t think [rejecting the Wright issue] is the right thing to do. I think he should try to get after it.

Gateway Pundit Jim Hoft: [Rejecting the Wright issue] is certainly disappointing.

Powerline’s Paul Mirengoff: I think there may be value in talking about the Obama-Wright connection.

National Review’s Michael Walsh: Even by Stupid Party standards, [tabling Wright] was an impressive display of preemptive surrender.

Fox Contributor Charles Krauthammer: [I]n principle, if you want to [bring up Wright], it would be completely legitimate.

Herman Cain: I think it is fair if someone wants to highlight the Reverend Jeremiah Wright and his relationship with Barack Obama because, quite frankly, it wasn’t highlighted enough in 2008 when he was running for president the first time.

So now, via a coordinated effort between Romney’s camp, Drudge, and Fox, this issue is being revived. Is it because the public has been clamoring for more information about it? Unlikely. Is it because it worked so well the first time? McCain lost. Or is it because it injects the theme of race into the campaign and riles up the GOP base and spurs prejudiced wingnuts to show up at the polls? Let’s just say “Fox News Reports, You Decide.”

Do the Wright Thing

[Late Breaking] Fox Nation is piling on with yet another “Unearthed Video” that charges Obama with “Slam[ing] ‘Violent’ Rich People.” In fact, in this 10 year old clip Obama was talking about the figurative violence of neglecting the needs of America’s less fortunate citizens. Fox is portraying these comments as literal and implying an escalation of the class war. On that subject, remember the words of Warren Buffet: There is a class war, and we are winning. Here is what Obama actually said:

Fox Nation Violent Rich

“The philosophy of nonviolence only makes sense if the powerful can be made to recognize themselves in the powerless. It only makes sense if the powerless can be made to recognize themselves in the powerful. You know, the principle of empathy gives broader meaning, by the way, to Dr. King’s philosophy of nonviolence. I don’t know if you’ve noticed, but rich people are all for nonviolence. Why wouldn’t they be? They’ve got what they want. They want to make sure people don’t take their stuff. But the principle of empathy recognizes that there are more subtle forms of violence to which we are answerable. The spirit of empathy condemns not only the use of firehoses and attack dogs to keep people down but also accountants and tax loopholes to keep people down. I’m not saying that what Enron executives did to their employees is the moral equivalent of what Bull Connor did to black folks, but I’ll tell you what, the employees at Enron feel violated. When a company town sees its plant closing because some distant executives made some decision despite the wage concessions, despite the tax breaks, and they see their entire economy collapsing, they feel violence.

Once again, there is nothing objectionable in those remarks. But Fox finds a way to mischaracterize them in order to stir racial animus. It’s all they have left.


Mitt Romney’s October Surprise?

Credit goes to Craig Unger at Salon who posted a column yesterday that disclosed plans by Mitt Romney’s campaign to ambush President Obama with a late-breaking attack commonly known as an “October Surprise.” Unger cited a Republican source with firsthand knowledge who said that…

“[T]op Republican operatives are primed to unleash a new two-pronged offensive that will attack Obama as weak on national security. […] they planned to release what they hoped would be “a bombshell” that would make Libya and Obama’s foreign policy a major issue in the campaign.”

So the next day that “bombshell” went off on the Fox News community web site, Fox Nation:

Fox Nation October Surprise

Unger called that one with pinpoint accuracy, right down to the language used by the campaign. And it was nice of Fox to cooperate with the Romney campaign’s strategists in getting their propaganda out. The article on Fox News reported this highly speculative story by saying that…

“U.S. diplomats in Libya repeatedly asked the Obama administration for more security in Benghazi in the run-up to the Sept. 11 attack on the consulate but were “denied these resources,” two congressional lawmakers said.”

Fox apparently made no effort to confirm the allegations made by hyper-partisan GOP congressmen Darrell Issa and Jason Chaffetz. There is no presentation of evidence that any diplomats ever asked for, or were denied, additional security. The diplomats in question were not identified, nor were the sources who alleged that any security requests were made.

This story couldn’t be any thinner if it were run over by a steamroller. However, its purpose, to steamroll the Obama campaign, is pretty obvious. And the conspiracy between Romney operatives, congressional representatives, and Fox News to launch this surprise attack reveals just how deeply the political/media machine is integrated into the right’s political infrastructure.

Expect this issue to show up in tomorrow’s debate. It is not a coincidence that the bombshell was let loose just prior to that event. And the right has been attempting to manufacture a story around this that they think is on a par with Watergate. They could not be more mistaken. This is just another wild swing and a miss that demonstrates how out-of-touch the GOP is with what is on the minds of the electorate.


Obama’s Lead Is Driving The Right (Even More) Crazy

When you start out with delusional notions that President Barack Obama is a socialist Muslim from Kenya who hates America, it doesn’t leave very much of a preserve of sanity to fall back on.

However, the recent crop of polls showing that Obama is ahead, and widening his lead, is testing the limits of the Batshit Crazy faction of the GOP, which these days seems to be most of it. With the help of Fox News, the right is feverishly scrubbing from their consciousness any polls delivering what they regard as bad news. Most recently, the GOP polling firm Rasmussen Reports published their latest daily tracking poll showing Obama ahead by three points. For some reason, that poll was not reported by Fox News who regularly post Rasmussen’s results when Romney is in the lead.

RealClearPolitics Polls

In addition to exhibiting acute denial when it comes to polling, the right’s patron paranoid schizophrenic, Glenn Beck, has come up with a unique explanation for why Romney is running behind:

Beck: I am to the point to where I think that God is trying to make this so clear to us that if it happens, it’s his finger. Because, boy, nothing looks good. And yet, everybody I know who I consider a spiritual giant feels good. And it bothers me that I feel good because, I’m like, there’s no reason that I should feel good on this.

See? God is responsible for Romney’s dismal polling. But He’s doing it so that his eventual victory will be an unmistakable miracle. And Beck is backed up by all the “spiritual giants” he knows. It sort of makes you wonder what it will mean if Romney ends up losing.

As for Beck’s reference to God’s finger, that is something he has discussed before. Last year he told his disciples that “I believe I have seen the finger of God. I believe that in the coming days you will see the entire of arm of God.”

Glenn Beck and the Finger of God

As I said last year, “Somehow I think it’s more likely that God is going to reveal his foot to Beck’s ass. However, I do believe that God has given Beck the finger.” And the preponderance of the evidence is that God is mightily pissed at Beck as revealed in Scripture.


Mitt Romney’s Opponent In Wednesday’s Debate Is Not Pres. Obama

When Mitt Romney takes the stage on Wednesday he will be facing President Obama for the first debate of the 2012 presidential election. However, Obama will only be a subordinate target in the encounter. The real audience Romney will be addressing is the club of wealthy donors who have been propping up his campaign.

Mitt Romney

The real reason that this first debate has taken on such importance is that Romney needs an unambiguous victory in order to keep contributions flowing into his coffers. A loss, or even a draw, will result in donors fleeing his campaign in the crucial final weeks.

This analysis is not the product of Obama partisans seeking to stir panic within the Romney camp. It was published by conservative pundit Charlie Gasparino on the Fox Business Channel’s web site:

Romney Losing Donors to GOP House, Senate Candidates
The Romney campaign is experiencing what some officials believe could be the beginning of a mass exodus of big money donors diverting their cash away from the Republican presidential hopeful and toward Republican candidates for the House and Senate races more likely to win in November, the FOX Business Network has learned.

Romney’s political neck will be on the line Wednesday. If he fails to throw a knockout punch, folks like Sheldon Adelson and Karl Rove will abandon him. The RNC will will have to concentrate on the real prospect of losing control of the House and reducing their numbers in the Senate. And as Romney’s electoral odds decline, even other Republican candidates will seek to distance themselves from the stench of a loser.

The problem for Romney is that if he attempts to strike a more aggressive posture, as many GOP strategists are advising, he is likely to come off as mean-spirited and even less likeable than he currently is. But if he doesn’t show his teeth during the debate he will appear weak and lose anyway. It’s a built in formula for failure, and no matter how the Romney spinmeisters twirl the post-debate PR, the public will see through it.

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Fox News Appoints Itself As Mitt Romney’s Debate Coach

It’s a few days before the first presidential debate of 2012, and Fox News is playing out its role as Mitt Romney’s debate coach.

Fox News Helps Romney

With broadcasts that openly display their preference for Romney, Fox News has dispatched their anchors, correspondents and contributors on a mission of shoring up Romney’s fading electoral hopes. Their television segments have headlines like “What Does Romney Need to Do to Win Next Week’s Debate?” And “Romney’s Debate Challenge: Can He Change the Campaign Narrative?”

Funny…Fox has never had a segment on what Obama needs to do to win, or how Obama can sustain his lead. All of these segments were aimed at providing advice for Romney on how to beat Obama in the debates and prevail in November.

Much of the discussion on Fox is hilariously incoherent and contradictory. They spend a great deal of time trying to lower expectations for Romney so that if he manages to avoid drooling spittle down his chin he can claim victory. At the same time they brag about his ability to present a clear vision that will demolish the President. Likewise, they are building up Obama’s debating skills to something on par with Churchill. But this is the same guy that they ridicule for being unable to string two sentences together without a TelePrompter.

The contradictions are also apparent in the advice Romney is getting. One faction says that all he needs to do is avoid mistakes and that just appearing on the stage with Obama raises the public perception of him. Others say that he needs to be aggressive and go for a knockout punch. Actually, both courses are likely to fail. Romney definitely needs a game changing moment to turn back the tide that is engulfing him, which suggests that the knockout is the way to go. But he’s not the sort of candidate that can pull that off and he risks looking mean-spirited and aloof. And if he tries to just muddle through without stumbling it won’t be a dynamic enough event to change the present course of the campaign.

In short, Romney’s only hope is that Obama screws up badly. That’s not impossible, but it’s also not much to bet on. This leaves Romney with pretty thin prospects for altering the political landscape. And that’s why Fox News is expanding their role and attempting to shape a path to victory for their candidate. Ironically, as highlighted on the image above, they will also continue to allege wholesale bias on the part of the mainstream media while hoping people will forget that there is no bigger or more biased media corporation in the world than Fox News.


BENGHAZI-GATE: How Fox News Is Shamelessly Politicizing Terror In Libya

The attack on the U.S. embassy in Libya was a tragic event that took the lives of four Americans serving their country. But rather than reporting what occurred with dignity and respect, Fox News immediately sought to politicize the tragedy in an effort to damage President Obama during a heated campaign. Unfortunately, their zeal to create a phony election issue has also harmed the families of the victims and the search for the truth.

In the wake of the attack there was rampant speculation as to the cause and the participants. Right-wing pundits and politicians didn’t wait for any facts before declaring their conclusions that it was premeditated terrorism. The Obama administration took a more thoughtful and responsible approach by not making any definitive statements. Conservatives portrayed that as weakness and continued to muddy the waters with baseless yammering.

As usual, Fox News took the lead in propagating rumors and innuendo. Their Fox Nation web site has published a steady stream of one-sided criticisms of the Obama administration. Amongst the wildly unfounded accusations are charges of deliberate cover-ups complete with comparisons to Watergate. Thus was born Benghazi-Gate.

Fox Nation Benghazi-Gate

Ever since the mid-1970’s scandal that drove Richard Nixon from office, partisans have been attempting to slap a “gate” at the end of any controversy. But it should be remembered that Watergate was not simply some government gaffe. It was an intentionally criminal act that included breaking into Democratic headquarters, paying off accomplices for their silence, and lying to investigators from law enforcement and congress. All of that unlawfulness was in pursuit of personal political benefits to the Nixon White House and reelection effort.

What occurred in Libya was tragic, but it was certainly not the result of someone in the White House pursuing personal gain. Nor was there any hint of corruption or clandestine plots to sabotage a political foe. Nor were there any attempts to covertly mask unlawful activity. In other words, there is nothing in this story that remotely resembles Watergate. This is just an attempt on the part of Fox to throw more mud at the President and hope that some of it sticks. It is their contribution to the Romney campaign that has been so woefully inept.

It has been less than three weeks since the Libyan embassy attack. That is hardly enough time to have conducted a thorough investigation and arrive at a conclusive decision. It doesn’t help matters with bitter partisans screaming for the heads of government agencies and even the impeachment of the President. In fact, that’s the kind of background noise that actually inhibits the process and unnecessarily incites further hostilities. Imagine the glee with which Al Qaeda would greet the news that their violent protests led to the downfall of the American president who ordered the killing of their leader. That is who the Republicans are aligning themselves with in this attempt to oust Obama from office.


The Snuff Film Network: Fox News Airs Live Suicide Of Carjacking Suspect

Faux PasToday during the broadcast of Shepard Smith’s Studio B, Fox News cut to a live police car chase in Arizona. This is typical fare for Fox News who frequently break into programming for this sort of crime drama. Never mind that there is nothing particularly newsworthy about it. Ordinarily it involves some low-level violation that would only be of interest to the residents of the locality where it occurred.

However, today the situation had much more tragic consequences. The suspect drove into field, abandoned the car, and ran down a dirt road to a clearing where he pulled out a gun shot himself in the head. Fox News aired the entire tragedy live.

After the shooting, Shepard Smith was heard ordering his crew to cut away, but it was too late. He seemed to be genuinely disturbed, and his subsequent apology was no doubt sincere. The network also issued an official apology.

However, there is a bigger issue here that Fox isn’t addressing. Why do they cover these car chases at all? There is no news value, particularly to a national audience, for a local crime. Suspects in these affairs are often seen exploiting their new-found celebrity. And the interest to the viewer is confined to its morbid nature.

What does Fox News expect to happen when they broadcast these chases? They know that the conclusions can be dramatic and disturbing. They follow fleeing suspects as they run through busy intersections and narrowly miss pedestrians. They interrupt more important news coverage as they devote hours to watching a car snake through the city.

Let’s face it, the only reason these chases are covered is for ratings. And the more dramatic the chase, the higher the ratings. Anyone who doesn’t believe that Fox harbors some desire that the car smash into a truck or a crowded bus stop, or flies off a bridge, is simply naive. Their resources are expensive. Helicopters, cameras, studios, producers, anchors, and crews, as well as the airtime and pre-empted commercials, are not given lightly to stories without some justification. They don’t spend hours tracking a vehicle from the air with the hope that the driver just decides to pull over and lay down on the ground. A shootout with police makes much better television.

So despite Smith’s regrets, it is hard to forgive Fox for subjecting their viewers to this. It was the inevitable outcome of their sensationalistic editorial philosophy. They simply cannot absolve themselves of any responsibility and then go back to broadcasting the next police pursuit as if nothing happened.


Allen West: Disgraced Army Reject Attacks Opponent For A Teenage Bar Fight

In the annals of disreputable political attacks, Allen West is going to have a place of honor reserved. His latest ad is a pathetic and desperate assault that avoids any discussion of substantive policy matters, but goes directly for jugular with an absurdly irrelevant personal smear.

For the record, Patrick Murphy was a nineteen year old college student in 2003. His arrest is surely not a moment of great pride, but anyone who is surprised that a teenager in college drank alcohol and got into a fight at a bar doesn’t know many teenagers in college. The charges were dropped and Murphy went on to graduate and become a successful businessman.

In 2003 Allen West was in Iraq where he submitted an innocent Iraqi police officer to torture. For that abusive and illegal behavior West was relieved of his command and only escaped a court-martial due to the intervention of a couple of powerful GOP torture supporters in congress. He was allowed to “resign” from the service but not without paying a fine and having his record sullied by his having disobeyed the law and ignoring orders.

West’s ad concludes by saying “Two men, a country in crisis — you decide.” That’s a good question. Who is the better man to represent the 18th district of Florida? A man who was thrown out of a bar as a teenager, or a man who was thrown out of the Army for torture and insubordination. And we might also ask whether one would prefer a Murphy, a man who has demonstrated his competence and diplomacy, or West, a maniacal extremist who thinks that 70-80 of Democratic members of congress are communists and calls anyone with whom he disagrees a Nazi. That’s the caliber of man who Mitt Romney chose to chair his Black Leadership Council.

You can help Murphy defeat West here: Patrick Murphy for Congress

[Update] Murphy just released an ad responding to West’s attack. The ad goes straight at West’s military misconduct and unlawful acts.