{"id":9952,"date":"2013-06-19T13:21:53","date_gmt":"2013-06-19T20:21:53","guid":{"rendered":"http:\/\/www.newscorpse.com\/ncWP\/?p=9952"},"modified":"2013-06-20T23:20:10","modified_gmt":"2013-06-21T06:20:10","slug":"for-gods-sake-do-not-take-financial-advice-from-fox-news","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=9952","title":{"rendered":"For God’s Sake, Do Not Take Financial Advice From Fox News"},"content":{"rendered":"

It has already been well established that Fox News is a round-the-clock lie factory (see Fox Nation vs. Reality<\/a>), but in case anyone was ever curious about whether that distinction extended to their business channel, the Fox Business Network, you no longer need to wonder. This morning’s interview of FBN reporter Lauren Simonetti on Fox & Friends First has summarily resolved this question.<\/p>\n

\"Fox<\/center>
\n<\/p>\n

The segment raised the issue of golfer Phil Mickleson’s recent showing at the U.S. Open where he came in second. It was the sixth time Mickleson fell just shy of victory at the event he has never managed to win. As a consolation, Fox News crunched some numbers and concluded that Mickleson was better off placing second because, according to their math, he would be poorer had he won. Here is Simonetti’s brilliant analysis (video<\/a>):<\/p>\n

“Sometimes coming in second pays off in the end. […] We broke down the numbers with the help of some tax gurus, for how much he could save, and the answer is $400,000 on taxes. […] So all in all, he’s $400,000 richer, I guess.”<\/p><\/blockquote>\n

Guess again. Simonetti’s logic revolved around the fact that had Mickleson won he would have earned an additional $3 million in prize money and bonuses on his sponsorships. The tax bill for that would have been about $400,000. Of course, that would still mean that after taxes Mickleson would be ahead by $2,600,000. But in the Fox universe, being able to avoid a $400k tax bite makes you $400k richer even though in the real world that the rest of us inhabit, you are actually $2.6 million poorer.<\/p>\n

I really have to sympathize with the losers who have been duped by Fox into thinking that their business network is a reputable place to get information and advice. The irony is that Fox’s counsel is creating more financially deprived people who will necessarily have to rely on the government services that Fox so viscerally hate.<\/p>\n

On the bright side (as Fox would say) is the fact that hardly anyone watches the network. After six years they are still a distant competitor to the business leader CNBC. That should mitigate the effect of the bad financial advice they disseminate along with their climate change denial, tax cut obsession, anti-ObamaCare hype, and general ultra-rightist propaganda. And remember, FBN was launched with a promise<\/a> by its CEO, Rupert Murdoch, that it would be openly biased in favor of the corporatists saying that…<\/p>\n

“…a Fox channel would be \u2018more business-friendly than CNBC.\u2019 That channel \u2018leap[s] on every scandal, or what they think is a scandal.”<\/p><\/blockquote>\n

And Mr. Murdoch knows a thing or two about leaping on every scandal (i.e. Fast and Furious, Benghazi, IRS, NSA, birth certificate, ACORN, etc.). Murdoch’s Fox News leaps on scandals like a horny teenager at whorehouse.<\/p>\n","protected":false},"excerpt":{"rendered":"

It has already been well established that Fox News is a round-the-clock lie factory (see Fox Nation vs. Reality), but in case anyone was ever curious about whether that distinction extended to their business channel, the Fox Business Network, you no longer need to wonder. This morning’s interview of FBN reporter Lauren Simonetti on Fox […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[219,1],"tags":[759,30],"class_list":["post-9952","post","type-post","status-publish","format-standard","hentry","category-economy","category-general","tag-fox-business-network","tag-rupert-murdoch"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4Ijg-2Aw","jetpack-related-posts":[{"id":3669,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=3669","url_meta":{"origin":9952,"position":0},"title":"America Hates Fox News","author":"Mark NC","date":"1\/20\/2011","format":false,"excerpt":"A new survey from Public Policy Polling shows that Fox News is the least trusted news network in the nation. NetworkTrustDistrust PBS5030 NBC4141 CNN4043 CBS3643 ABC3543 FOX4246 This is the second annual poll on news network trust. Last year had Fox at a higher level overall, but the poll's internals\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40533,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=40533","url_meta":{"origin":9952,"position":1},"title":"Fox News Primetime Shows are So Offensive that Fox is Afraid to Sell them to Advertisers","author":"Mark NC","date":"2\/11\/2019","format":false,"excerpt":"There's been a pretty steady stream of bad news lately for Fox News. Most prominent is the success of MSNBC's Rachel Maddow, along with many of her colleagues. She has beaten her Fox competition, Sean Hannity, nearly every night since early November, after the midterm election. Fox is also hurting\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump Fox News","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-news-channel.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-news-channel.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-news-channel.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10403,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=10403","url_meta":{"origin":9952,"position":2},"title":"Irony Alert: First Issue Of Biased Fox News Newsletter Questions Media Bias","author":"Mark NC","date":"8\/20\/2013","format":false,"excerpt":"This morning marks the debut of a new service by the folks at Fox News aimed at delivering their trademarked GOP-authored propaganda directly to your email inbox. The \"Fox News First\" newsletter introduces itself asking... \"Always wanted Fox\u2019s political must-reads? Now you can have them. Each weekday morning, our DC\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1535,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=1535","url_meta":{"origin":9952,"position":3},"title":"Fox News Viewers: Bewitched, Bothered, And Bewildered","author":"Mark NC","date":"1\/26\/2010","format":false,"excerpt":"The infatuation Fox News viewers have with their pet network is becoming an evermore heated affair. A new poll reveals the network to have a mesmerizing effect on their disciples. The poll measured levels of trust in television news viewing. The overall result that is being widely reported is that\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10085,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=10085","url_meta":{"origin":9952,"position":4},"title":"SURPRISE! Fox News Audience Overwhelmingly Anti-Obama Republicans","author":"Mark NC","date":"7\/8\/2013","format":false,"excerpt":"Gallup just released the results of a new survey on where Americans get the their news. Not much about the findings are particularly earth-shattering, however, a couple of points reveal something notable about the Fox News audience. Gallup reports that 55% of respondents cite television as their main source for\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2981,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=2981","url_meta":{"origin":9952,"position":5},"title":"Fox Cancels The Future Of All Civilization","author":"Mark NC","date":"10\/17\/2010","format":false,"excerpt":"In a demonstration of precisely why giant media conglomerates must be regulated and broken up, Fox has escalated a contract dispute into an obscene abuse of power. Their action stems from faltering negotiations over fees paid to Fox by Cablevision, a New York area provider of cable TV service. \"Reports\u2026","rel":"","context":"In "Big Media"","block_context":{"text":"Big Media","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=12"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/9952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9952"}],"version-history":[{"count":4,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/9952\/revisions"}],"predecessor-version":[{"id":9971,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/9952\/revisions\/9971"}],"wp:attachment":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}