American investors woke up Monday morning to see a devastating sell off on Wall Street and other markets around the world. The uncontested view of economic experts is that the sharp decline resulted from growing concerns about the coronavirus (Covid-19) as it continues to spread. Factories in China are shut down. Trade is being curtailed. International festivals and conferences have been canceled. The global financial impact is undeniable.
Well, undeniable everywhere but on Fox News, where good news is always due to the heavenly inspired works of Donald Trump, and bad news can only be the work of Satan’s minions in the Democratic Party. Fox News host Charles Payne, in what may be the most idiotic economic analysis of the year to date, sought to carry out that doctrine during an in interview as the markets were in the process of imploding (video below). He was asked by the allegedly “straight news” anchor, Ed Henry, this brazenly leading question:
“Is the sell off all coronavirus, or is this the first time the markets are open since Bernie Sanders took control of the Democratic battle?”
The audacity that it takes to allow that question to slither through one’s lips is impressive. It certainly is the first time the markets have been open since the Nevada primary caucus, but that has nothing to do with the sell off on Wall Street. How would that explain the sell off in markets around the world where Sanders is not running for anything? What’s more, Sanders’ win in Nevada is hardly “taking control” (a loaded term in itself) of the Democratic battle. It is just the third contest out of fifty (plus territories), and represents a small percentage of votes cast and delegates acquired.
Payne’s response to Henry’s stridently biased question was that “The Bernie factor is finally rearing its head in the stock market.” He then rattled off a list of companies in the health sector that are suffering big losses. Of course health-related companies would naturally be hurt by news of an impending global pandemic. And that harm would be throughout the world, just as it is currently playing out. But that obvious fact was incomprehensible to Payne and his Fox colleagues. Their deliberately dishonest banter continued with the following exchange:
Sandra Smith: Can you directly attribute that loss to Bernie Sanders?
Payne: Absolutely…there’s absolutely no doubt. [later adding] This is the first time, I think, that Wall Street has taken Bernie Sanders very seriously.
“Absolutely no doubt”? Neither Wall Street, nor anyone else, should take Fox News seriously. Payne is not just speculating on a possible contributing factor. He is insisting that Wall Street’s alleged fear of Bernie Sanders is undeniably the only cause of the worst drop in the Dow since December of 2018. That’s not just glaringly false, it’s painfully stupid and grossly irresponsible. Ironically, throughout this segment the chyron on Fox News read: “STOCK MARKET SELLOFF ON CORONAVIRUS CONCERNS”
Payne is supposed to be one of Fox’s financial experts (his own program is on the Fox Business Network), although like everyone else at State TV, he weaves his right-wing opinions into all of his comments. He recently made the bizarre assertion that “Wall Street Loves Donald Trump,” as if that was a positive endorsement for his reelection. And like many of the men on Fox, Payne has been charged with sexual assault. Fox settled a lawsuit with Scottie Nell Hughes, a former contributor, who had accused Payne of rape.
The political biases of Fox News are not news to anyone. And with the advent of Donald Trump, they have become even more conspicuously partisan. But this ludicrous attack on Sanders is grotesquely out of bounds, even for Fox. They are fully indoctrinated into the Trump Cult. And nothing better demonstrates that then this asinine attempt to blame Sanders for a pandemic-driven market decline that he clearly had nothing to do with. There is apparently a virus spreading through the Fox News studios that is turning all their brains into oatmeal.
How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.
Fox Business host Charles Payne blames much of today's Dow plunge on Bernie Sanders' Nevada win:
"The Bernie factor is finally rearing its head in the stock market…there's absolutely no doubt." pic.twitter.com/20041Y0oHE
— Justin Baragona (@justinbaragona) February 24, 2020