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
How I Learned To Love The Debt
Another great article. But unfortunately, our central bank did not, and does not care about small business. Why was it ok for the BOE to bail out small business in the UK while the Fed allegedly couldn't? The Fed is destroying the biggest job creator. It makes the wealth divide much more serious. And the tax cuts were skewed to the wrong people, making it necessary to cut more to the very people the Federal Reserve hurts with its policy. Now MMT is the backlash. You capitalist leaders have really screwed up.
Upcoming Chinese PMIs (NBS And Caixin)
If the USA were "growing lustly" we would see less slack in the labor market. The authors can't be serious about this, can they?
Death Of Inflation And The Death Of Equities
I sympathize with the author's concerns about central banking. The Fed is the worst central bank, because it ignored small business when it bailed out the financial system. Even the BOE did more. And asset inflation further exacerbates the wealth gap. But inflation on the way soon? Not when John Mauldin says we are headed to becoming Japan-like. That seems to be the real direction. Jmo.
A New Indicator (The LIUR) Suggests That The American Job Market Still Has Some Slack
I didn't understand that number, but I think the authors of the study take issue with measurements of unemployment that count a part timer as being a full time. If a full time job comes along, many part timers bolt their jobs for little increase in wages, because they need the hours. There are so many part timers in the workforce that they are the source of slack.
What Will Amazon Shares Do Post Earnings?
Diversity is their strength. They gave Kohl's a boost.
Why The Stock Market Rallied So Fast
2007-2009, close, real close, to doom. But better than Great Depressions.
GDP And Earnings Crush It And That Means Higher Stock Prices
The author does not have certainty that end demand will pick up. If he says he does he is not being truthful. JMO.
GDP: Deja Vu
Inventory GDP is a joke.
What Will Amazon Shares Do Post Earnings?
So beating the whisper number was a success, but beating the revenue was sort of sad. Things are slowing out there!
Is This A Gamechanger For The Lithium Industry?
If the author is right about rising demand, the price of lithium will skyrocket. I don't see much growth in the USA though. People may buy them with incentives. Many switch back after trying them out.