Charles Payne has been a staple of Fox News' Saturday stock market lineup for years and his role expanded with the launch of the Fox Business channel, but his role is based solely on his hatred of all things democratic and Keynesian and his love of all things conservative and the free markets. He loves to bash the lower classes and poors by saying riduculous stuff like: 'It Gets A Little Comfortable To Be In Poverty,' so whenever the news is good for Wall Street or Main street, he's always there to sour up the results as much as possible.
After a positive jobs report came out today, he was Johnny-on-the-sport, tweeting about economic disaster since the unemployment rate went down.
Is the jobs number too good for the stock market...equity futures are drifting lower not sure how to react
— Charles V Payne (@cvpayne) July 3, 2014
WTF does he mean? If this report came from the Romney administration he'd be doing cartwheels on the set. And the fact the stock market is so high, he'd be resurrecting Reagan's corpse for all to see.
The Dow Jones Industrial Average is currently near 17,000. When President Obama took office on January 20, 2009, it was at 8,279.63.
And Fox News pulls the same stunts with their reporting too:
While Thursday's jobs report demolished expectations and sent the country's unemployment rate plummeting to 6.1%, the Fox News Channel noted the "real" unemployment rate was twice that number.Citing the figure the Bureau of Labor Statistics calls "U-6," defined as the "total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers," the conservative-leaning news channel emphasized the higher number.
"Brand new monthly jobs numbers to tell you about," a show anchor said Thursday morning, according to video provided by the left-leaning group Media Matters. "The unemployment rate [is] falling 0.2% to 6.1%. But with many out of the labor market, we need to point out the real unemployment rate stands at 12.1%."↓ Story continues below ↓
For what it's worth, some economists have criticized the notion that the "U-6" number represents the "real" unemployment figure.