Business Cycle & Economics Blog of Caleb Lawrence
Stocks struggled early and fell late on little real news. Weekly claims for unemployment fell to 502,000 while the 4-week moving average slipped to 519,750. While still painfully high a dip below 500,000 claims would provide some comfort at least psychologically. Following losses of 18.9 billion by Fannie Mae during the 3rd quarter and 6.3 [...]
Hi and welcome to The Profit Motive, I’m your host Caleb Lawrence. Once upon a time in America the media acted as the watchdog of the corporations and the state. In the modern era it’s all about ratings and profits, opinion has been substituted for news and frequently is presented as fact. Much like my daily radio show on KPIG 107.5 FM in Santa Cruz California and KPYG FM 94.9 Cayucos/San Luis Obispo California. A thousand Blogs were able to spot the current problems and many began discussing it years before it reached crises proportions. While there were exceptions, and these exceptions are becoming more common, the mainstream media failed to get it and largely continue to do so.
