PEEK

Fox Business Network Has Destroyed U.S. Economy

Yes, in just four months since FBN came on the air, the Dow Jones has lost 2,000 points.
Ok, that headline may come off as misleading. Actually, Conservative economic policies and the Bush Administration have been the ones that have lead the U.S. economy to the point where the world is starting to engage in widespread panic.

But, six of one, half-a-dozen of the other.

But the evidence is overwhelming. Fox Business Network came on the air on Oct. 15, 2007. According to Barry Ritholtz: "On the last trading day before FBC debuted, the Dow closed at 14,093."

On that Friday, Oct. 19, 2007: The Dow Jones Industrial Average sank 366.94 points, or 2.64%, to 13,522.02. The S&P 500 was off 39.45 points, or 2.56%, at 1500.63, and the Nasdaq Composite plunged 74.15 points, or 2.65%, to 2725.16.

Today, the Dow is at 12,099.30. And trading hasn't started yet.
William K. Wolfrum is a regular blogger for Shakesville
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