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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EU Monetary And Economic Failures
Well, for the benefit of world prosperity, I hope you are correct, Jack.
EU Monetary And Economic Failures
Interesting! Yes, the Eurozone takes slow growth to a new slow. How slow is it possible to settle at? And it is true that bonds are the new gold, not just with the Fed. The Eurozone needs to hope for Chinese prosperity. It certainly cannot rely on the imbicile in chief to save the day.
Why The Shale Boom Left California Behind
So, yes, the injection of water is said to be the cause of most quakes in Oklahoma. But isn't that process tied to fracking? Is it possible to avoid the injections and still carry out fracking?
Why The Shale Boom Left California Behind
I cannot believe that earthquakes in Oklahoma were not mentioned as a reason Californians are extremely opposed to fracking. I have been in a major quake in 1983 in Coalinga, California. If anyone has never been in a major earthquake, they are pretty much clueless as to the danger. There were baseball players sitting in a dugout during the Coalinga quake, and the pitcher's mound disappeared from their view. Fracking is an unacceptable major risk in the minds of most Californians who are vulnerable to mother nature in many ways without fracking being added to the mix.
Capitalism: Problem, Solution, Or Both
Update 2: Beto O'Rourke is running for president. He is pro capitalist. That could be a good thing for the Democrats if he can facilitate the compromises put forth in this article. The wealth divide is a serious problem that requires the cooperation of the Fed and capitalism to fix. The alternative is far more radical and unforgiving politics.
Will The ‘Fed Put’ Work On The Next Go-Around?
Sobering, interesting article.
Greenspan’s Massacre Masterpiece
There is money, but it is not where it should be, and a little more would help the overall economy. But asset inflation while wages hardly grow is simply not cutting it. But the Fed likes it this way.
Blistering Demand For 10Y Treasuries As Foreign Bidders Surge
The hoarding continues.
Risk Sentiment Bolstered By Ongoing US/China Trade Talks
The market remains optimistic on the words of Sarah Sanders. That is truly astonishing.
Trump Will Make Japan Great Again
Interesting. However, Trump does not like Japan much either. He is driving China and Japan to more cooperation because he is relentlessly stupid. And also, Japan was sideswiped by Basel 1. China was smart enough not to sign Basel 2, which allowed China to help pull the US out of the Great Recession. For its help, all China gets is flack from the relentlessly stupid one.