Fox Business

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  • Media Take Note: Trump Is The Worst Possible Messenger On The Clintons’ Marriage

    ››› ››› CAT DUFFY

    When media report on Republican presidential nominee Donald Trump’s latest attacks on former President Bill Clinton’s history with women and Hillary Clinton’s responses to those women, they should also mention the immense hypocrisy of Trump levying those claims. Trump and several of his closest advisers have long histories of infidelity, workplace sexual harassment, and misogyny. And Trump himself previously said both that Clinton’s relationship with Monica Lewinsky was “totally unimportant” and that people would have been more “forgiving” if Clinton had a relationship “with a really beautiful woman.”

  • Flashback: How Fox News Promoted Trump's Birtherism

    ››› ››› NINA MAST

    As the Trump campaign attempts to put Republican Presidential nominee Donald Trump’s racist, conspiratorial claims about President Obama's birthplace to rest, it’s important to remember that Fox News and Fox Business helped lay the groundwork for Trump’s birtherism by giving him a platform to promote his birther beliefs -- which some Fox hosts, analysts, and contributors embraced.

  • Right-Wing Media Figures Push Trump’s Suggestion That Ford Is Sending Jobs To Mexico

    ››› ››› JARED HOLT

    Right-wing media figures advanced Republican presidential nominee Donald Trump’s suggestion that Ford Motor Company was sending Michigan auto jobs to Mexico despite the fact that Ford CEO Mark Fields said Trump’s innuendo was “absolutely not true” and that “zero” jobs are being exported from Michigan. The auto giant is retooling its Michigan Assembly Plant to focus exclusively on large, profitable trucks and SUVs while reallocating production of less profitable small cars to Mexico in response to changing consumer preferences in the United States.

  • VIDEO: What Right-Wing Media Get Wrong About The Unemployment Rate

    Blog ››› ››› JOHN KERR & DAYANITA RAMESH

    Right-wing media personalities have long claimed that the economy is worse off than it is in reality by citing inappropriate figures to distort the full picture. They claim that the “real” unemployment rate is much higher than the figure reported by the Bureau of Labor Statistics (BLS), and they often point to the labor force participation rate as the main indicator of how healthy job growth is.

    Donald Trump has claimed that the unemployment rate is as high as 42 percent, saying “these are the real unemployment numbers – the 5 percent figure is one of the biggest hoaxes in modern politics.” PolitiFact gave that claim a rating of “Pants on Fire,” its worst possible verdict, but right-wing media have repeatedly enabled this lie by claiming that as many as 94 million Americans are "not in the labor force," failing to note that this 94 million includes: students, retirees, stay-at-home parents, and those institutionalized in mental health or penal facilities. As of August 2016, the official unemployment rate is 4.9 percent, down from a peak of 10 percent in October 2009 following the financial crisis.

    Conservative pundits like to cite the labor force participation rate, which is the percentage of the population that is in the labor force, as proof that the economy is in decline. They use this rate because it is downward trending while the unemployment rate has been steadily improving for nearly six years. The reason the labor force participation rate is on the decline though, is because "baby boomers" are retiring en masse; in fact, roughly 10,000 people reach retirement age every day. Labor force participation peaked during the Clinton administration, and President Obama inherited an economy in the midst of a deep recession from President Bush. The idea that Obama is to blame for an imaginary economic decline is just misinformation.

    Many economists agree that the employment to population ratio is a better measure of economic health -- as it represents the number of jobs available as a proportion of the total population -- and the ratio has been gradually improving since the end of the recession.

    These types of myths are harmful. CNN Money recently highlighted a study from the John J. Heldrich Center for Workforce Development at Rutgers University which found that while the unemployment rate is only 4.9 percent, 57 percent of Americans “believe it is a lot higher” because the “general public has ‘extremely little factual knowledge’ about the job market and labor force.” The article also noted how “Donald Trump has tapped into this confusion” by “repeatedly call[ing] the official unemployment rate a ‘joke’ and even a ‘hoax.’”

  • Fox Business Cherry-Picks Economic Data To Accuse Obama Of "Cherry-Picking" Economic Data​

    Panelists Ignore The Entire Bush Administration And Great Recession

    Blog ››› ››› CRAIG HARRINGTON

    A Fox Business panel attempting to downplay the latest round of positive economic indicators devolved into self-parody. The host and guests misleadingly framed median income data to omit the economic calamities of the Bush administration while accusing President Obama of “cherry-picking the time frame” and “playing with the numbers” related to other examples of economic improvement.

    On the September 14 edition of Fox Business’ Varney & Co., host Stuart Varney and guests Elizabeth MacDonald and Tammy Bruce slammed President Obama for defending his economic legacy during a campaign stop in Pennsylvania. The segment began with Varney and MacDonald lamenting that new median household income data released yesterday by the Census Bureau is “still below the peak back in 1999,” with MacDonald mockingly adding, “You’re nearly [as] rich as you were 17 years ago.”

    Varney complained that Obama was “cherry-picking” data to claim his administration has created nearly 15 million net new jobs, and MacDonald added, “He’s not factoring in 2009, … so he’s playing with the numbers.” MacDonald further claimed that a “majority of net new jobs” during the Obama administration have been in “low-paying fast-food or health sector” industries. Bruce concluded the segment by lamenting the administration’s so-called “spin” and “theater” while citing evidence from outside sources that she claimed contradicts the significant increase in median household income from 2014 to 2015.

    The complaint that Obama is “not factoring in 2009” is particularly telling, given that the segment began with Varney and MacDonald ignoring all of the reasons that median incomes remained lower in 2015 than at their 1999 peak. What happened between 1999 and 2015 to cause this income stagnation? The answer is simple: two recessions, both of which occurred during the Bush administration and neither of which was Obama’s fault. From the Census report:

    Contrary to Varney’s claim, President Obama was not “cherry-picking” data to prop up his economic legacy. Even Fox’s complaint about shifting the “time frame” on net job creation carries little weight. CNNMoney explained last January that the president is basing his calculation on net jobs created since the low point of his presidency. He does not include 2009, because the economy the president inherited that year was rocked by recession and “it took time for the administration’s policies to take effect.” According to the Bureau of Labor Statistics (BLS), the Obama administration has overseen the creation of 15.1 million private sector jobs since that indicator bottomed out in February 2010 and 10.9 million private sector jobs overall since he took office in January 2009.

    The Census report showed major improvements in the poverty rate and the health care insurance rate and revealed broadly shared income gains across all racial and ethnic groups and by workers at every level of income. The gender wage gap narrowed slightly, with women earning roughly 80 percent as much as men in 2015, up from 79 percent the year before. The Census deemed that increase not to be “statistically significant,” and more work remains to be done to achieve equal pay, but the latest data still reveal the narrowest pay gap in history. Meanwhile, the year-to-year median income increase of 5.2 percent represented “the largest single-year increase since record-keeping began in 1967,” according to The New York Times.

    Fox News and Fox Business have a long history of cherry-picking data to frame the Obama administration and progressive economic policies in the worst possible light. The economy continues to improve despite their protests.

    View the full segment from Varney & Co. here:

  • Fox Business Invites On A Deplorable Hate Group Leader To Defend The "Basket Of Deplorables"

    Blog ››› ››› ERIN FITZGERALD

    Fox Business’ Stuart Varney hosted Tony Perkins, a leader of a hate group who tried to make homosexuality punishable by death, on the September 12 episode of his show, Varney & Co., to discuss Democratic presidential nominee Hillary Clinton’s comment that half of her Republican counterpart’s supporters can be put “into what I call the basket of deplorables.”

    Perkins is the leader of the Family Research Council (FRC), an organization the Southern Poverty Law Center (SPLC) has designated an anti-LGBT “hate group” due to its known propagation of extreme falsehoods about LGBT people. Over the last year, Perkins and Republican nominee Donald Trump have developed a cozy relationship, which ultimately led to Perkins’ official endorsement of Trump in June. Perkins has been outspoken about his belief that he can shape and mold Trump’s ideologies to become more in line with FRC’s extremism. FRC also plans and hosts the Values Voter Summit, a gathering of anti-LGBT, anti-choice evangelical extremists where Trump spoke over the weekend.

    Perkins used his platform on Varney’s show to try to flip the “deplorables” point -- in which Clinton was noting the racist, sexist, homophobic, xenophobic, Islamophobic” views of many Trump supporters -- and attack the Clinton Foundation for receiving donations from countries where “those that are considered deplorable” can receive the death penalty. But Varney failed to note that Perkins is himself one of the driving forces behind such laws; he and his group have lobbied to criminalize homosexuality internationally, and they supported a bill in Uganda that would have made same-sex relations punishable by life in prison or death. The Fox Business interview also omits any mention of the millions Trump made from conducting business in Saudi Arabia -- one of the countries to which Perkins was alluding -- despite Trump’s attempts to smear the Clinton Foundation for accepting Saudi donations.

    From the September 12 edition of Fox Business' Varney & Co.:

    STUART VARNEY (HOST): Tony Perkins is with us -- he's the Family Research Council president. You just heard Donald Trump say that that could have been a huge political mistake. What say you, Tony?

    TONY PERKINS: Well, I think he's right. I mean, I think this shows that the Hillary Clinton campaign is really kind of almost a political basket case. Look, look at the contrast here. Donald Trump has actually been appealing to Bernie Sanders' voters, inviting those who voted in the Democratic ticket to come over and support him. She's insulting those who were on the right by calling them "deplorables." Look, this is also, I think, very insightful, Stuart, cause I think when you look at the countries that have provided money to the Clinton Foundation, when you use the term "deplorable," I think that's an interesting term. When you look at deplorable, many of those countries actually imprison and execute those those that are considered deplorable. I mean, is this some kind of subtle message she's sending?

    VARNEY: Well, I have to admit, Tony, that earlier this morning I had a leading Democrat on the program, and I almost lost my temper -- frankly, I think I did. I made it almost personal, because in my family there are three races, five nationalities and two religions. That's all my family. And I don't like being called a xenophobe, a racist, whatever. I don't like that. I really object to that, and I think a lot of people feel the same way that I do. I don't like this, and I'm not going to have it.

    PERKINS: No, I think you're absolutely right. But I think it shows how narrow-minded, isolated the liberal-progressive wing of the Democratic Party has become where they feel like they can insult anyone, silence anyone who does not agree with their progressive agenda. But, again, I think people need to take note, and I think people are taking note that may not be a Donald Trump supporter, may not even be a typical Republican voter: But when she starts talking about people she disagrees with as a basket of deplorables, and considering, again, the people she's been associated with through the Clinton Foundation, how they treat people who are considered deplorables, this could speak volumes about what she has in mind for those she disagrees with.

  • Fox Business Spends Mere Seconds Reporting On Gretchen Carlson’s Settlement

    CNBC Devoted Significant Resources To The Story, While Bloomberg And Fox Relegated It To Quick Headlines

    Blog ››› ››› JULIE ALDERMAN

    Fox Business devoted a mere 16 seconds of airtime to the eight-figured settlement reached by 21st Century Fox and former Fox anchor Gretchen Carlson after she filed a lawsuit against former Fox News CEO Roger Ailes for sexual harassment and retaliation. Bloomberg and CNBC spent marginally more time on the news, even though Bloomberg relegated the story to quick headlines.

    21st Century Fox announced September 6 that it had reached a $20 million settlement deal with Carlson, who sued Ailes for sexual harassment in July. Fox also released a public apology saying, “We sincerely regret and apologize for the fact that Gretchen was not treated with the respect that she and all our colleagues deserve." CNN reported that the company “also completed settlement deals with a ‘handful’ of other women who accused Ailes of harassing behavior.”

    In the 24 hours after the settlement was announced, Fox Business covered it only once, in a 16-second statement from host Charles Payne. Bloomberg News devoted six segments to the settlement, but they were all short headlines that lasted less than 30 seconds each.

    CNBC was the only business news network to devote substantial coverage to the story, spending 12 minutes and 21 seconds discussing the settlement across six segments. CNBC’s segments also included more substantial coverage of the allegations of sexual harassment at Fox News. In an interview on the September 6 edition of Squawk Alley, Vanity Fair contributing editor Sarah Ellison, who broke the story of the settlement, discussed the “waterfall effect” of women coming forward and speaking up about being sexually harassed at Fox. CNBC reporter Julia Boorstin noted of the settlement that “though there were talks about Ailes covering some of that payment, he is not going to be making any contribution ... despite the fact that Ailes reportedly walked away from Fox with twice what Carlson is being paid, $40 million.”

    Fox News was also hesitant to cover the story when Carlson filed the lawsuit in July, and when the network did report on the issue, it leaned heavily on Ailes’ prepared statement. The network’s first report on the lawsuit came a day after it was filed, and it was almost entirely a recitation of Ailes’ statement. In a piece on FoxNews.com after news of the lawsuit broke, Fox News media analyst Howard Kurtz carried water for Ailes by citing his denial before even establishing the facts about the allegations he was denying.

  • Four Ways Media Attack Organized Labor

    ››› ››› JULIE ALDERMAN

    As Labor Day approaches, Media Matters looks back at how media have attacked organized labor over the past year. In the midst of several important battles for labor unions in 2016, media have often pushed misleading information about union membership and fees, attempted to delegitimize the votes of union members, uncritically cited and elevated voices from anti-union dark-money groups without proper disclosure, and claimed that teachers unions’ activism shows that educators do not care about what’s best for their students.

  • Chris Christie’s Minimum Wage Veto Was Based On Right-Wing Media Myths

    ››› ››› ALEX MORASH

    New Jersey governor and Trump campaign adviser Chris Christie held a press conference on August 30 to announce he would veto a bill passed by the state legislature to raise the minimum wage to $15 per hour. During the press conference Christie attacked efforts to raise the minimum wage, citing right-wing media myths that raising wages would hurt businesses and lead to job automation.