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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S&P 500 Heads Into Earnings Season Up Roughly 15%; What Could Go Wrong?
I would think, Seth, that even smartphones would be included in retail reports. Isn't Sprint a chain store? But I am not certain. The chart that alarmed me is in my article here: talkmarkets.com/.../us-consumer-spending-flashes-an-alarming-call-to-action
S&P 500 Heads Into Earnings Season Up Roughly 15%; What Could Go Wrong?
Xmas sales and total retail chain sales are half what they were in 1999. I realize some product is contained in smart phones, etc. But there is weakness in clothing, housewares, baby products, etc.
Brexit, The EU-China, And The Abandonment Of The Open Door
Europe needs to align with China economically. Trump does not deserve cooperation from the EU or China. He is not a capitalist. He is a fascist.
S&P 500 Heads Into Earnings Season Up Roughly 15%; What Could Go Wrong?
Complete analysis. Consumer is weak. The tax returns will run their course.
The Skeleton In The Electric Car Closet
Sure, it has always been that way, but promises of automated driving along with ill fated attempts show us that it really is just a fancy assistance for a necessary driver behind the wheel.
Market Commentary: Faux Statesmanship
Interesting article. But helicopter money from Milton Friedman is not crazy. It has nothing to do with what you were discussing, shadow banking. You say QE was a mistake to continue. Ok, then there should have been QE for the people. Even Will Rogers said if you put money into the hands of the regular fellow it will trickle up to the wealthy in no time. Yes, asset inflations are dangerous, and they increase the wall between the haves and haves not. But that doesn't mean there isn't an alternative. And Friedman knew it.
The Skeleton In The Electric Car Closet
Sully their green souls. Ha. Isn't that the truth!
US Consumer Spending Flashes An Alarming Call To Action
No, I agree. I know you didn't say that. If what you say is true about their work ethic, ultimately, then there are others who will come and work hard.
US Consumer Spending Flashes An Alarming Call To Action
Many saw their parents work hard only to be swindled by Wall Street in the housing bubble and crash. The resulting Great Recession and Fed tightening reduced wages, making it very difficult for millennials. If what you say is true, Harry, then America should be ecstatic that immigrants would want to come to our nation. My experience with immigrants in the farm community is that they can work circles around Americans. That Donald Trump is ignorant of this fact makes it certain that America will fall short of our own business needs.
China Has Already Won. But We’re Fighting The Wrong Fight
Interesting article. Yes, how people fit in with the machines is an issue. I think AI is overrated. We won't be hearing from Hal. And they can keep their self driving (another lie) cars. But, yes, China will make the most of AI. China seeks prosperity while the US seeks power and domination.