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
US Trade Deficit Shrank In November
Imports and exports are slowing. This is not a good sign.
Recovery In Stocks Continues As The Fed And China Become More Cooperative
A cheery tariff optimism. The flaw is regarding the lifting of current tariffs. Trump has hinted he may not do so. Further, he is not going to lift steel tariffs. Forced technology transfers are not illegal. China may pass a law that may be lightly enforced making them illegal. That is hardly the biggest deal ever. We have American companies wanting access to China while they also want protection from China's superior and yet cheaper products. This is crazy.
What Bond Bull Really Means
Bill Gross is retiring. He apparently is throwing in the towel in being hawkish on interest rates rising. Didn't work out so well for him, or maybe just his clients who probably are fleeing for the hills.
What Bond Bull Really Means
Lack of investment usually signals the end of the business cycle. Just how weak business is regarding investment and hiring and inventory investment is just now surfacing.
The US And China-More Alike Than You Think
That is a very useful chart, author. The US cannot have it both ways, Chinese as customers and stifling Chinese companies in the west. That should be obvious to our government but apparently it isn't.
Are Central Banks About To Shift Gears Towards Easing?
More than misjudging, they actually kept a charade going, giving ample liquidity for stock buybacks and proceeding to normalize interest rates. That normalization was a pipe dream, really.
Deficit Spending Main Driver Of American Economy
The only domination I see is American protectionism of inferior and expensive IPhones. Fear of China and tariff wars will lower world prosperity.
Q1 2019 EPS Forecast Take A Hit While S&P 500 Surges Through January 2019: Sustainable?
The inefficiency of tariffs are huge. Steel tariffs and the subsequent hope that China reduce its capacity for steel production seems to be a huge policy error. All we need for a slower world economy is higher priced steel. Add to this that Huaweii makes superior cellphones for a whole lot less money and American financial efficiency is doomed. Americans are being bled by Apple, by big pharma and by steel tariffs. Can you imagine where we would be as a nation if we had protected our pre Japan crappy auto companies? We will become a fossil of a nation for sure if tariff man isn't curtailed.
Amazon Hauling Cargo In Self-Driving Trucks Developed By Embark
However it appears these are not driverless, as someone is behind the wheel to make them safer.
Amazon Hauling Cargo In Self-Driving Trucks Developed By Embark
It is all dangerous.