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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Shrinking Global Liquidity Raises A Red Flag In The Equity Markets
I am listening to Mike Mayonaise Mayo telling us on CNBC that consumer credit is just fine. How does that reconcile with your research, Prof?
The Decline And Fall Of The European Union
While I sympathize with the analysis that says the faceless leaders of the Eurozone are the totalitarians, many populists are fascists. I would not anyone to think that there is much of a choice for citizens of Europe.
Amazon's Jeff Bezos Doesn't Understand Female Shoppers
Update: Whole Foods has, so far, rejected the Amazon fresh policy. Whole Foods will take poor quality produce returns.
The Bookkeeper’s Pen, But Which Bookkeeper?
Snider and Sumner and Selgin disagree lots, but on excess reserves they all seem to agree. Excess reserves are a head fake, not stimulus in any way.
Views On Monetary Policy
Interest on excess reserves is no stimulus. It fooled people into thinking it was!
Europe Likely In Recession Now: Germany, France, Italy Production Collapsed
The future is not Europe. It is Asia. And Europe will find a way to offend China just like the USA is doing. Shooting yourself in the foot is the phrase most appropriate.
The World’s Largest 10 Economies In 2030
Asia is where it is at. The US is foolish to push Asia away over unproven security concerns and fear of losing any technological edge. The security concerns are overblown, and the technological advancement of China cannot be stopped, only slowed, so what is the point of that?
China Slowdown And Financial Markets
Taiwan is where the most sophisticated chip technology is stored. China will get that technology one way or another. Hopefully, it is peacefully.
BoC Stubbornly Clings To The View That Rates Have To Rise
Yes, this is serious and Canada is commodity dependent. I think any Chinese deflationary trends will just hurt Canada further.
Epic Flip-Flop: From Surefire Inflation To ‘Muted’ In Three Weeks
I noticed that the head of the Chamber of Commerce cited a labor shortage. Perhaps it is just that where labor is needed, there are no skilled workers to be found. They are elsewhere. I think the lack of ability to relocate these days is a big factor in labor shortages when there are workers still looking for work in other regions.