Muckraker of the Financial System

The Fed knew about the housing bubble before it burst but lied and said they didn't: Bill HR 1424 to buy bad paper (eventually called TARP) was introduced in March 9, 2007, before there began to be bad commercial paper from private subprime RE loans, in August.

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ALL CONTRIBUTIONS

E Negative Rates, Climate Science And A Fed Warning
Even if climate science does not prevail with its economic aspirations, the world faces increasing challenges to growth and normalization of interest rates.
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E Skinny Deal: Whose World View Is Currently Winning?
Bannon and Cramer populism vs. Ron Paul; meddling in Hong Kong.
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E The Derivatives Monster Creates A Bull From Capital, Not Labor
Siphoning off capital takes place as interest rates generally decline, and it is a dangerous game.
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E Why Did The Fed Turn Dovish? Not Just Trump
One could almost say that keeping business cycles going is a sign of economic weakness! The Fed fears the pain of a downturn on the banks and counterparties. Barely over 40 percent of all derivatives trade through clearinghouses.
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E Trump Economic Plan Revealed: What Should The Fed Do?
Trump's plan implies American capital would flood out from the US into China bonds, driving yields down. Theoretically that would drive the Yuan up with hot money. With China losing money on US bonds that go negative, that is certainly is risky.
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E The Poverty Of US Interest Rates
Poverty in the financial system can be measured by interest paid on treasury bonds.
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Comments

Latest Comments
Deregulation Of Dodd-Frank Is Causing Mortgage Credit Expansion
6 hours ago

Interesting. It seems like building is increasing, but that may or may not affect equities if holiday sales are weak.

Why Did The Fed Turn Dovish? Not Just Trump
6 hours ago

Update 2: As Fed funding in repo continues, it appears that speculators and counterparties are hoarding bonds while the big banks don't want them and are hoarding cash. The Fed is attempting to make a market through liquidity injections.

Dimon’s View Of Economic Reality Is Still Delusional
22 hours ago

China is more free trade capitalistic than is the USA. Too much speculation in real estate has distorted the connection between work and expenses.

Skinny Deal: Whose World View Is Currently Winning?
3 days ago

Update 6: Wall Street was greeted by Trump saying he wants to wait until after the election for a trade deal. He is tariff man. Wall Street never did grasp this truth about Trump.

Stocks Get Slammed On ISM Data, May Have Further To Fall
3 days ago

1.5 GDP considering the tax cuts is horrendous. Other than the rosey GDP assessment, good article.

China Braces For December D-Day: The "Unprecedented" Default Of A Massive State-Owned Enterprise
5 days ago

So, in a pinch, the Chinese government may assist the regular people while letting reckless commerce default. Cool.

Ex-BOJ Chief Regrets Not Hiking, Hated QE, Says Sub-1% Interest Rates Don't Work
5 days ago

If Japan wants more fiscal debt, the government is insane. Now with recession coming the BOJ must issue helicopter money. This is the perfect time and perfect nation to issue HM to the people directly because that will stop fiscal spending increases.

The Fed’s Answer To The Ghastly Monster Of Its Creation
6 days ago

The only real help is helicopter money, not universal basic income, which could be inflationary.

The Fed’s Answer To The Ghastly Monster Of Its Creation
6 days ago

China has grown faster, contributing to stock appreciation. But nothing can justify these prices.

US Consumers Abandon Brick And Mortar, Spend Money Online As Black Friday Begins
6 days ago

Correction: Lines were long at certain stores, but others were weak. Also sales have been going on awhile. I read that 50 percent of shoppers are already done before today!

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Latest Posts
UJET Interview With CEO Anand Janefalkar
UJET has cutting edge technology that allows the use of a smartphone app to make the interaction between the customer (caller) and the call center to be much more user friendly.
Socially Responsible Investing As Alex Jones Is Banned
Social investing practitioners would generally be in favor of banning someone who exhibits racial or ethnic hatred against whole groups of people. It is good to look at Facebook and at Google and compare the two with regard to social concerns.
Hitler Economics In The Age Of Trump
There is a case to be made for sovereignty and mutual respect of sovereign nations, but just not in the way that Trump has made it. There is a benign sovereignty and a belligerent and hostile sovereignty. Is POTUS very dangerous or Hitler-lite?
Peter G. Peterson Turned Entitlement Into A Bad Word
Peter G. Peterson was a philanthropist for the wealthy, a reverse Robin Hood
The Cult Of Tesla's Elon Musk
I focus here on Elon Musk, because he is likely the the most powerful cult leader in America, other than perhaps Donald Trump. Elon Musk seems to be able to make outrageous statements and still retain his followers.
Trump Administration's Strange Response To Ford Relocating To China
Trump Embraces Ford Focus production in China when it railed against them being produced in Mexico. Why is this?
It Is Getting Serious With POTUS: Deep State Versus Russia Connection
It appears that Steve Bannon is now courting favor of the White House. I wrote about how radical he is as he has espoused a libertarian economic agenda on steroids.
The Curse Of Trump Is In Cutting Back On The Poor
The United States is a prosperous nation. But attacking the poor is not the way to remain prosperous. It has been tried before with disastrous results.

Work Experience

Blogger
Examples of Globalization Blog
2010 - Present (10 years 1 month)

On my blog I discuss the past housing bubble, the crash and future housing bubbles and scams. Offering easy money loans should be against the law but is not. Selling bogus AAA rated bonds should have been prosecuted but the scheme came from the bankers at Basel 2. You can't go higher than that. http://www.examplesofglobalization.com

Education

University of California, Santa Barbara
1967 / 1970
Political Science & Government

Publications