There is more Evidence that Foxnews is a defective product. Like the Ford Pinto, Foxnews should be recalled before it hurts more folks:
According to the latest results from Fairleigh Dickinson University’s PublicMind Poll, some news sources make us less likely to know what’s going on in the world. In the most recent study, the poll asked New Jerseyans about current events at home and abroad, and from what sources – if any – they get their information. The conclusion:
Sunday morning news shows do the most to help people learn about current events, while some outlets, especially Fox News, lead people to be even less informed than those who they don’t watch any news at all.
... the real finding is that the results depend on what media sources people turn to for their news. For example, people who watch Fox News, the most popular of the 24-hour cable news networks, are 18-points less likely to know that Egyptians overthrew their government than those who watch no news at all (after controlling for other news sources, partisanship, education and other demographic factors). Fox News watchers are also 6-points less likely to know that Syrians have not yet overthrown their government than those who watch no news.
"Because of the controls for partisanship, we know these results are not just driven by Republicans or other groups being more likely to watch Fox News," said Dan Cassino, a professor of political science at Fairleigh Dickinson and an analyst for the PublicMind Poll. "Rather, the results show us that there is something about watching Fox News that leads people to do worse on these questions than those who don’t watch any news at all."
By contrast, some media sources have a positive effect on political knowledge. For
example, people who report reading a national newspaper like The New York Times or USA Today are 12-points more likely to know that Egyptians have overthrown their government than those who have not looked at any news source. And those who listen to the non-profit NPR radio network are 11-points more likely to know the outcome of the revolt against Syrian President Bashar Al-Assad. However, the best informed respondents are those that watched Sunday morning news programs: leading to a 16-point increase in the likelihood of knowing what happened in Egypt and an 8-point increase in the likelihood of knowing what happened in Syria.
This has been noted before, but if you consume the Foxnews product as intended, it does the opposite of what it promises. It ends up harming the consumer.
This seems to be a product liability case waiting to happen. Perhaps an ambitious trial attorney can hook up with someone who watches Foxnews near 24 hours a day and who threw his life savings behind some Tea Party Fueled investment scheme pitched on the Glenn Beck show and who ended up losing everything. Question: if you were a teabagger who fell for such a scheme would you want fellow Teabaggers on the jury who may sympathize with you or Reality Based Folks who dislike Foxnews? Not sure about this one.
Anyway,one such candidate to headline a defective product suit against Foxnews, may be Eric Cantor:
One of the rightwing talking points of the past two years touches on the coming onslaught of inflation. Inflation is coming warns, Sarah Palin, and its going to destroy your household budget. Pretty soon you won't be able to afford Milk or Soap or Slim Jims or anything else on your grocery list, all because of President Obama. He is bad. Be afraid. And so on and so forth.
This is of course, bullshit. Inflation projections appear to be quite low for the foreseeable future. But this reality, didn't stop the Foxnews or the AM Radio or the WSJ editorial page from, as Nathan Bedford Forrest* would say "Keeping Up the Scare" about the inflationary menace. If you can score points against the other side, does it really matter that in keeping up the scare, your views/listeners/readers become misinformed? Actually it does.
This reminds us that living within right wing counter culture, with its attendant horrors such as fearing inflation or death panels when the threat of neither exist, comes with a price. Simply put, getting one's news from a Foxnews program or from another rightward source can be bad for you.
Exemplifying just what the right wing counter culture can to do a person is none other than Majority Leader Eric Cantor. According to the Wall Street Journal, Mr. Cantor, frightened of inflation and firmly living within right wing counter culture, made a $150,000 bet. In December of 2009, he bet against US treasury bonds and on future inflation by purchasing a fund that correspond to twice the inverse (opposite) of the daily performance of the Barclays Capital 20+ Year U.S. Treasury Bond Index. In other words he bet on a fund that would do quite well should the onslaught of inflation come to pass and do very poorly in the absence of such an onslaught. What are the results of Cantor's bet? Cantor's 2009 investment of $150,000 would be worth about $75,000 today due to the lack of inflation. A bad bet indeed.
There is a price to be paid for believing in the wingnuttery. Unfortunately, I do not believe Mr. Cantor will learn from the error of his ways.
* /cheapshot> This reference to a Confederate General is in no way an attempt to associate the old timey conservatism of the past with the conservatism of today's crazy crowd. It is just a mean-spirited jab on my part.
I think Cantor or someone like him may have a Case. But while Cantor is wired into the wingnut welfare culture and likely would alienate his benefactors with such a suit a nameless winger would not have this problem and could champion such a suit. I encourage such behavior.