Also, oil rebounded from the lowest close in almost two months, supposedly on speculation that China will take stimulus measures. We have gone from $50 a barrel in 2007 to above $90 in just a few years. We ask David Greenberg about what really changed that may have exacerbated this rise in the price of oil in the last 5 years.
Plus, US GDP revisions for the second quarter reduced growth down to 1.3 percent on an annualized basis. Times Square was a good indication of tough times after the 1929 stock crash, and since Lauren and Demetri are in New York today, we will have a chance to hear from them about what they call the "peep show indicator" in a special episode of "Loose Change." Source