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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WTI Tumbles After Massive Gasoline, Distillates Inventory Builds
You can lead a car to gasoline, but you cannot make it drink. Or something like that. I have noticed that in many neighborhoods in Las Vegas, weekend driving is increasingly light away from tourist areas.
Even More Bad News For Apple
So #Apple $AAPL will continue to bleed its US customers while giving sweet deals to the Chinese who know the Iphone is no longer a status symbol, but is in fact inferior to Huawei and Samsung.
2019: World Economy Is Reaching Growth Limits; Expect Low Oil Prices, Financial Turbulence
My concern is that #China has room to grow but #Trump seeks to limit that growth. #Energy is important, but is not the only factor. Trump's tariff war is an attempt to bully the weak, but China is far from weak. It is America that is weak. Trump is miscalculating. Here is proof: www.talkmarkets.com/.../mengs-arrest-vs-the-rule-of-law
December Corporate Bond Issuance Collapses – Credit Metrics Do Not Suggest Stress
Inventory investment cratered in December. This makes sense coupled with corporate bonds slow issuance.
Keep Fitch's Warning In Perspective
I honestly do not think long bonds are bought based on risk as much as they are bought for use as currency and collateral. That could change but I am not sure we won't all be 6 feet under when it changes. :)
Warning: This Market Rig Is Going To End Terribly
Plunge protection team is working overtime in synchronization with well placed Bloomberg articles regarding very low level talks on tariffs between the US and China. JMO. This looks like major phoniness to me!
Indonesia Rising
I believe this narrative. Yes, weakness in China could bring weakness to Indonesia. But Trump pushes Indonesia away while Asia bonds. This is bad news for tariff warriors but good news for world stability in the long run. www.talkmarkets.com/.../are-policy-refugees-jumping-the-trump-tariff-ship
A GDPNow Chart Worth Watching
Thank you, professor. I certainly hope the inventory investment chart does not get too ugly going forward
Expect A Deal With China, Just Don't Expect Much From It
China's boycotts are it's made in China goal. The Chinese are buying Huawei phones while cutting back on Samsung and iPhones. Huawei will be the greatest cellphone company in the world simply by locking up the Chinese market.
Meng's Arrest Vs. The Rule Of Law
Update 6: Merrill Lynch reports Chinese citizens are boycotting iPhones. Chinese boycotts are effective and harsh and Apple is the prime example. Soon, iPhones will be a forgotten product in China. Are we winning? Also, Canada would do well to pay attention and let Meng go.