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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Latest Comments
Will Trade Tensions Sink The Stock Market For The 50th Time On May 6?
Too much risk for the average guy. The pros can be in and out lightening fast. The average buy and hold guy could get hurt. Trump is the tariff man. He could be crazy. He wants to isolate the USA, us against the world. Auto companies could face credit downgrades. US companies in China trying to compete could get slaughtered. China just makes more stuff. Our stocks are tied to that success. As we are excluded from their supply chains, our manufacturing could crater. Congress needs to put a stop to this.
Policy By Tweet: US Announces New Tariffs On China
The Chinese delegation likely will not continue negotiations.
Meng's Arrest Vs. The Rule Of Law
Update 10: The US refuses to include Meng in the trade negotiations. Meanwhile, Canada is losing business to China. Canada has tried to get the US to bend on Meng with no success. Now Trump wants to impose more tariffs on China and Wall Street is getting nervous that we are losing the trade war. China produces 10 trillion dollars of goods while we produce 2 trillion. And our stock market is tied to China's success.
Why The Stock Market Rallied So Fast
No that the clown in chief is seeking tariffs again, all bets are off. If Wall Street wants to stop the madman, they need to take the market down. They have no other hope.
The Great Stock Buyback Debate
Lack of business investment can end a business cycle. And wage share of corporate profits are lagging badly, another potential warning of the end of a cycle. Great article.
The Fed Is Paralyzed By Mixed Messages
The Fed should ease but it is obsessed with a guy making a 5 percent increase in wages. The Fed is obsessed with wages.
Mike Pence: The "Economy Is Roaring" So Let's Cut Rates
Pence needs to come clean. The economy is fragile and that is why we need to cut rates. We are on to his double talk.
Three Things I Think I Think – Berkshire, Jobby Jobs And Chase Tweets
Well he had a great baseball career, 1800 hits, 240 batting average. Kind of like the economy. Zzzzzz
March Monthly GDP Growth At 0.1%
Rates should be lowered to stimulate a slowing economy. But the Fed is worried some guy might get a 5 percent raise. They are nuts!
China Is Trying To Keep Its Economy Growing Above 6% By Increasing Infrastructure Investments
We can't even fix potholes, prof.