In seeming violation of the “fair and balanced” edict they usually adhere to, Fox and Friends had a rather dubious segment this morning advancing the notion that a victory for Republican Scott Brown in today’s special election in Massachusetts could provide a boost to your 401(k).
“Well, you may want to make a call to Massachusetts and get some people out to the polls,” said Fox and Friends co-host Gretchen Carlson. “That’s because our next guest, and a friend, says that your portfolio could look much better if Scott Brown wins Ted Kennedy’s vacant Senate seat.”
Regular Fox and Friends guest Stuart Varney then explained in cold, scientific, highly technical terms that if Scott Brown wins, “it’s possible” people’s 401(k)s could benefit. “Think of it this way: if Scott Brown wins, I mean that is a revolution in Massachusetts politics,” Varney reasoned. “So if Scott Brown wins… you’ve got 10 months before the next big election, time to reverse the tax, spend, and borrow, and deficit story that we’ve had for the past year. Investors would love that. Your 401(k) could do well because of that.”
That’s just Economics 101.
Hat tip to Media Matters and Think Progress.
