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
Trickle Down Didn't Work For Trump, Bush And Hoover. Here's Why
He was a thoughtful man, Prof. It appears as though the politicians make promises from the right or left having no clue about investment and its catalyst, demand. Thanks for your comment.
The Trump Put
I was just going off the author's statement that Trump will find a way to claim victory. There won't be a real victory, as we now know that Xi and Trump aren't even going to meet before March 2nd! But Trump desperately wants to claim something to sooth the markets.
Jim Cramer Slides To Dark Side On China Tariffs
Update 3: Stocks are down as it is announced that Xi and Trump will not meet prior to March 1 deadline. Trump needs to blink and stop any additional tariffs. He should blink but he is driven by his own irrational goals, so we can't be sure.
Capitalism: Problem, Solution, Or Both
Yes, prof. Will Roger's certainly understood demand limitations during the Great Depression. Unlike the Fed, which paints a rosy scenario, Roger's told the people of Great Depression times the real problems with the economy and exposed the failures of percolation (trickle down) during that time. My father said Will Roger's was a great man.
MMT Sounds Great In Theory... But
Social security as self funding. It cannot be included in these numbers. This sort of thing needs to stop. As for the ultimate result of MMT, the reduction of the dollar is a risk. Isn't the real danger of MMT the possible damage to the bond market? And MMT will allow massive speculation. Cheney believed in it for continual war.
Canadian Banks Back Away From Mortgage Lending
Guess it all depends on whether lending eventually loosens or stays tight for the foreseeable future.
GM CFO Breaks Down Its Strong Fourth Quarter Earnings Results
Truck sales are tariff protected. Cadillac is a good brand. But as the CFO said, the industry is strong, but is stuck on a plateau. The American consumer is reaching the limit.
U.S. Workforce Recovery - Wednesday, Feb. 6
This is a must read article. I personally believe that the low participation rate could be a function of increased multigenerational living. Child care costs could also be a factor.
The Trump Put
What you are saying, Simon, is that the president has to lose, faking a trade deal of substance, for stocks to rally. But a slowing world economy could take stocks out of Trump's hands, anyway.
Free Speech
Can anyone really believe that Trump will turn into Mr nice guy? I can't. Nice information here about Germany. Amazing how sentiment is so cheery about a trade deal with substance. That is a real long shot.