Business Cycle & Economics Blog of Caleb Lawrence
Stocks are about even into the final hour on disappointing news. The November ISM non-Manufacturing or services index surprised to the downside falling below 50 to 48.7 signaling a return to contraction for an Index that covers some 75% of total economic activity after 2-months of expansion, not a good sign though 1-month does not [...]
A great summary of how the investment banks and credit ratings agencies screwed themselves, their investors, your average American and as is becoming increasingly self evident delivered economic ruin on a national and global scale. Junk mortgages: It just gets worse In 2007 we dissected one toxic issue. The horror story continues, but can we [...]
A very interesting piece comparing renting to owning based on a study by Dean Baker of the Center For Economic Policy Research, original CEPR article is here: The Gains from Right to Rent Is “Helping Homeowners” Washingtonspeak for Bailing Out Banks? By Dean Baker December 1, 2009 – 9:17am ET The gaps between mortgage payments [...]
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.
