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. I have published on two other ...
more 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. I have published on two other prominent financial websites, Seekingalpha.com (as Gary A) and at Businessinsider.com. I muckrake the banking system and found premeditated causes for the housing bubble and subsequent meltdown. I am married with 4 grown children.
Specialties: Impacts of politics on the economy, interpreting economists, writing about the negative impact of some aspects of globalization and pros and cons of the new normal. I don't like tariff wars. Email bgamall at gmail
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The Real Trade War
Interesting article. So, you made the argument that China's socialist/capitalist mix is more efficient than US capitalism when it comes to pushing airlines, etc. You made the argument that China reaps rewards from labor in Mexico, but doesn't the USA stock market exists primarily to make money off Chinese labor? You say China is getting too much credit from western banks. Is that China's fault? I would be careful sourcing US propaganda in making your arguments. In my opinion some business news outlets appear to be propaganda shills of the USA government. I hope that is not the case, in many cases.
How Fed Cycles Exponentially Reduce Long Term Wealth Creation
It is amazing the bs we are getting from CNBC this morning. The economy is slowing, chips are vulnerable, the idea that the US consumer can still save the world is no longer a sure thing.
Trump’s Trade War Raises American Costs, Reduces American Incomes
The article author is likely correct. And for me it goes beyond just the dollar amount of #tariffs. Tariffs mess with investments and that is a dangerous game. China helped pull us out of the Great Recession, too. Is that how we treat a nation that helped us? What if China decides to buy from other nations next time? #Trump and his trade buddies are radicals. The trade war could be far more harmful than actual changes in GDP. I hope it has a moderate effect, but if Trump miscalculated it could throw the world into a strong recession.
China Deal Off? What Comes Next.
Our negotiators were talking about Chinese excess capacity. Of course, that is going to Belt and Road, and the Chinese could care less about our views on their excess capacity.
How Fed Cycles Exponentially Reduce Long Term Wealth Creation
It wasn't as if the Fed didn't want to normalize rates. In its heart of hearts, it did. In reality, that could not happen without taking down the risk asset, the only one making a real return, the stock market. So, the Fed is in a tough place. What makes this tough place worse is the establishment of bonds as collateral on a massive scale. It makes allowing inflation to zoom a non starter.
Why The Stakes In This Week’s US-China Trade Talks Couldn’t Be Higher For Markets
These are dangerous radicals running the US government. I don't think that has sunk in yet. The only way to get a trade deal is if our radicals in government blink.
The Real Trade War
I would be very careful in prejudging China's relationship with Indonesia and these other nations.
Tom Lembong, head of the Indonesian Investment Coordinating Board.
"Indonesia has found China’s openness to its feedback on improving the Belt and Road Initiative highly encouraging” and is forecasting multibillion-dollar investments by Chinese firms in four regions earmarked as future growth drivers, the country’s investment minister Tom Lembong said." www.scmp.com/.../indonesia-forecasts-multibillion-dollar-belt-and-road
My point is, the game is not over. I would be careful of any analysis coming from the New York Times or the FT. JMO.
What Would It Take To Spark A Rural/Small-Town Revival?
The wealthy can afford to avoid the unbearable traffic moreso than most.
The Market Told Us What It Thinks About The Trade War: It Doesn’t Care
Likely wrong. The market turned when the Chinese delegation decided to keep negotiations going.
China Nowhere Close To Becoming A Global Financial Center For Many Reasons
Who cares, Mish? China makes 5 times what we produce. China has a proprietary currency that allows it to have greater purchasing power parity GDP than does the USA. Not a financial player? No big deal.