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Originally Posted by NC_Skins
Nope. No lies or distortion going on here.
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i honestly dont understand what kind of point youre trying to make with that "Fox News" discrepancy, which you refer to as "lies and distortion". Is it a "having your cake and eating it too" type thing?
But the lies and distortion (aka discrepancy) thing isnt even really a discrepancy at all, because Fox Nation and Fox Business are entirely different networks, both of which are likely making their statements for entirely different reasons. Their purposes are independent of each other.
I honestly dont even think Fox Nation is even a network or channel, but just a website. And its not a journalism reporting site but a blog style conservative targeted news/opinion/commentary site. Obviously the headline “Gas Prices Up 83% Under Obama” is going to be for that audience.
Fox Business is more of an actual news network but just like CNBC, Fox Business focuses on equity markets and economic situations with analysis and opinions. Politics are really only discussed in terms of their perceived effects on markets, and often with caution or sensitivity. Usually business networks purely focus on "business" from early morning until 4pm (when most US markets close), followed by market recap and economic punditisy (my word). Political opinion may drift into shows later in the evening.
You also have to know conventional wisdom formed around current economic events. I suspect the reason Fox Business proclaims “Cheap Gas Isnt Good” is because it implies that the demand for it is falling, which serves as an indicator that our economy is hurting.
Commodities are tricky to value because their intrinsic value is hard to define and much (or all) of their total value is purely speculative or market driven. But lets pretend the price of gas is 4 bucks; $3 of which is its base value, and $1 being global economic demand. If our economy isn’t healthy or things in Europe are bad (or both!) and the demand aspect for gas drops by a dollar, than cheap gas at $3 “isn’t good”.
If the “base value” fell independently of the global economic demand that would be good, and may imply additional supply, a stronger dollar, lower production costs or a host of other things. So while high gas prices are usually bad, whats even worse is when gas prices are low because no one needs to drive to work.
Either way these are different statements made by different media outlets for different purposes and likely in very different context.
I personally find it interesting that gas prices have increased 88% since Obama took office while the global economy has been subdued. I believe the major increase in gas prices under Bush came from the HAVOC (VCU Baby!!!) Katrina had on the oil supply and felt temporary. I cant say that about current prices…..