When Fox Business News went on the air in Oct. 15, 2007, the Dow Jones was at it highest levels ever. Ever since the day it went live with its promise of bringing Wall Street to Main Street, the market has collapsed with its value halved.
Has this channel cursed our investment world?
Maybe Neil Cavuto won't admit it, but his channel has been nothing but bad news for America. It swore it wouldn't be negative against corporate America like Murdoch, Ailes and Cavuto declared was true about CNBC. They claimed FBN would be " "business friendly."
Did this channel make us see corporate America as a great place to invest instead of being an evil empire cooking its book? Were we duped by the Sunshine Staff that always wanted to find the positive spin?
The sad thought is the channel attracts less of a crowd than your average minor league hockey team. It's not that it somehow has given out bad advice to investors (like when a certain Mad man almost got me to buy Sirius at $1.50). Nope. Judging from the ratings, Fox Business Network has merely become a bad penny to our economic woes.
The best thing that can happen for Wall Street woes is for the channel to be jettisoned off the cable box. Perhaps it's the weight that's keeping our money balloon from lifting high enough to clear the recession mountain peaks.
Maybe this is what George H W Bush meant when he talked about Voodoo Economics? Purge us of your juju, Rupes.