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
Fed Watch: Some Like It Hot
1.6 percent inflation isn't hot. The Fed won't admit it was wrong raising rates in December. Therefore keeping rates the same is all about saving face.
Stocks & Bonds Slide As Powell Comments On Next Rate Move: "Asset Prices Are Elevated, But Not Extreme"
The Fed does not like to admit it was wrong. Funny that markets do not understand this.
No Help On May Day, Which Is Also Fed Day
The fear is that a trade deal fail. Trump should go for what he can get realistically, because he probably has hurt the world economy with trade wars, and has ultimately weakened the US position. Proof of this is that Huawei is growing in China while Apple isn't. The Chinese consumer is walking out on America. Trump probably realizes that his tariff war was pure folly.
Meng's Arrest Vs. The Rule Of Law
Update 9: New data shows Huawei is the only smartphone with sales growth in China:
www.cnn.com/.../index.html
The “Mini-Recession” Rolls On
Add to this author, an updated GDP inventory investment chart that just fell off a cliff:
talkmarkets.com/.../a-gdpnow-chart-worth-watching
A GDPNow Chart Worth Watching
Update: Inventory investment is cratering. See this chart. New data!
US Consumer Spending Flashes An Alarming Call To Action
#Update: Even with a 3.2 percent GDP for the quarter, consumer spending remains weak. Inventory buildup drove GDP, not consumer spending.
A Look Inside The Scheme To Eliminate Cash, Impose Negative Interest
Unacceptable totalitarianism.
The Swiss Still Have Plenty Of Ammo
It will be interesting to see just how low they can go before people start pulling money out of Swiss banks. Probably a little lower than now.
What Tokyo Eurodollar Redistribution Really Means For ‘Green Shoots’
China is powerful buying from home. If foreign products get too expensive it will hurt the world more than it will hurt China.