Business Cycle & Economics Blog of Caleb Lawrence
Stocks advanced nicely from the open on supposedly better economic data. Retail sales gained 1.4% in October, much better than the 1% gain expected. Interestingly most of the gain was driven by motor vehicle and parts, despite the end of the Cash for Clunkers program, subtract this category and retails sales only gained .2%. The [...]
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.
