The New York Shock Exchange, a financial literacy program Ralph Baker started in 2006 for his 11 year old son and other boys his age, was actually blogging about the next recession. The Shock Exchange saw poor economic headwinds and the pending storm. Mr. Baker turned those findings into a book, Shock Exchange: How Inner-City Kids From Brooklyn Predicted the Great Recession and the Pain Ahead. However, the mainstream media, including the Financial Times, refuses to admit the Shock Exchange foretold the Crisis.
What Sandbu and the Financial Times really mean is “No white economists” predicted the Financial Crisis. President Donald Trump was correct when he called the U.S. media “fake news.” Who knew the U.K. news was just as fake and racist.
It has been four weeks since we called out Sandbu and the Financial Times for not acknowledging how blacks predicted the Financial Crisis. The economics community is hurting and allegedly looking for answers, but all of the answers can be found in Shock Exchange.
