Here’s the latest “Fox News Is Evil” story lefties will be hyperventilating over for the next few days:
During Fox News’ coverage of the July 7 London bombings, Washington managing editor Brit Hume told host Shepard Smith that his “first thought,” when he “heard there had been this attack” and saw the low futures market, was “Hmmm, time to buy.” Smith had asked Hume to comment on the lack of a negative U.S. stock market reaction to the London attacks.
I watched the segment that is being referred to live on my lunch hour yesterday. The clip encompasses all the pertinent parts, but let me summarize it for you as well.
Shepard Smith asks Brit Hume if the reason why the stock markets haven’t plunged (as they sometimes do after disasters or tragedies like this one) was because the attacks occurred in the middle of the night U.S. time. Hume said that a better explanation was probably that the stock market was down yesterday and, with the market even further down this morning after news of the attacks begin to hit the media, some people were looking for some bargains. After all, the simplest strategy for sound investing is to buy low and sell high. Hume went on to add that this is what he, personally, thought of when he saw the stock market prices.
Now, in light of that summary, does Hume’s statement sound as sinister as Media Matters is making it out to be? Of course not. The idea of an investor taking advantage of bargain stock prices, regardless of the situation, is not sinister at all. It is, quite simply, practical.
Some might even say that purchasing stock in the face of a tragedy, and thus putting your faith in the continued strength of our markets, is not only a good thing to do from the perspective of personal finances but is also a good thing to do from the perspective of our national economy.
But hey, that doesn’t matter right? The right-wingers at Fox deserved to be bashed regardless of how trumped up and non-sensical the charges are.
Sadly, this stupidity seems to be getting some traction in the media.
Rob Port is the owner and operator of Say Anything.