Rupert Murdoch, the head of News Corp., which owns Fox News, appears on his own station to talk about the state of the U.S. economy. Unsurprisingly, he is bearish about the future. Murdoch says, "wait until unemployment reaches 10, 11 percent...I don't think that can be stopped."

The Believability Meter thinks Murdoch is simply being an alarmist. There is no doubt that Murdoch has noticed that the ratings for Fox News have gone up lately, maybe he thinks disaster predictions are what his audience wants. It's hard to say why Murdoch doesn't believe his own predictions, but there is little sign that the unemployment rate will top out any time soon. Where do you think this is all heading?