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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Why Powell Is Trapped: "If The Dot Plot Shows A Reduction In Hikes, Bond Markets Won't React Rationally"
Will Roger's once said the financial system is broke if rates can't rise 1 percent. Our banks must be massively broke if we cannot tolerate half a percent.
Housing Keeps Getting Worse
China doesn't need to buy USA real estate. Are we winning?
Malaysia Files Criminal Fraud Charges Against Goldman Sachs
Celebrating GS's wonderful Great Recession behavior 10 years previous. Doing things, alleged, like driving up the price of oil that helped break the US economy and other cool stuff filed under the lable: God's work.
Richard Cantillon, The Most Important Economist You’ve Never Heard Of
Or direct the fake money, as you call it, to Helicopter drops to the regular folks. But not continually, like UBI.
US Wages Bounced Up Sharply In October
Seems like wages are still a bit tepid historically as to percentage growth, prof. Is it worth being so hard on emerging markets and the world economy because of a single month over 3 percent?
Crypto Bull Tom Lee: Bitcoin's 'Fair Value' Closer To $15,000
Chris Whalen says Bitcoin is a felony. Or as Bart Simpson once said, 52 million shares times zero is zero. https://www.youtube.com/watch?v=arENYYkYBts
Why The Brexit Has Become Too Painful For Everyone
The British banking system could benefit from Brexit, as it has fewer rules than its EU counterpart. The Pound would benefit, since the alternative was going to be the European State with one currency. British banks are stronger than EU banks, think Deutsche Bank.
But, on the other hand, the UK is smallish. There aren't many people.
Retail Sales, The More Immediate Problem
China retail drops to 8 percent growth and the world worries. US growth has declined from 2014 according to the last chart. Labor is weak. The tax cuts should have come with strings attached, like forced spending of a portion of the cuts on the real economy.
Week Closing On A Disappointing Note
Labor isn't that strong. Sale prices have hit rock bottom. Credit usage is increasing. But the rest is all good, Marc.
Retail Sales Growth Marginally Improves In November 2018?
Considering prices are at rock bottom, this is pretty dismal. Great article.