Business Cycle & Economics Blog of Caleb Lawrence
Stocks entered the final hour about even following a morning of volatile trade. The first revision to 3rd quarter GDP brought it down to 2.8% from the originally reported 3.5%, as expected. The WSJ took a look at mortgages and concluded that some 23% or 5.3 million US households are underwater on their mortgage. A [...]
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.
