Take a look at this Fox News report from last night about the economy, which aired during Special Report. Doom-and-gloom barely captures the report's theme. “The Obama administration took a double hit on the economic front today,” host Bret Baier announced, pointing to jobless claims and the latest G.D.P report.
Here's what Special Report did not include in that taped segment: The Dow Jones Industrial Average yesterday rose to its highest level in three years. And yes, that was the third time this week the Dow set a multi-year high.
Meanwhile, the NASDAQ this week reached a ten-year milestone high.
Last night, Fox News forgot to mention that in the last five days of trading, the Dow has climbed 300 points, or that in the last two weeks the Dow has jumped nearly 650. (In just over two years, the Dow's posted a whopping 6,000-point gain.)
As I noted earlier in the week, for some reason Fox News is not interested in the story of the stock market and it's bullish springtime run under Obama. But boy, when it headed south in 2009, Fox News couldn't stop talking about the Dow and how it reflected so poorly on Obama. (And how he was actually to blame.)
It's funny, back then Fox News held up the Dow as the ultimate barometer for judging the health of the U.S. economy. If the Dow went down, it meant bad, bad news for Obama. But today, when the Dow seemingly can't stop climbing, Fox News doesn't show much interest in the Wall Street index. Suddenly Fox News doesn't want the Dow's good news to get in the way of the story the channel would rather tell: Obama's economy is in bad shape.