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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Are Policy 'Refugees' Jumping The Trump Tariff Ship?
I am not an expert on the significance of sanctions in history, the effectiveness of sanctions in history. But it is clear that they interfere with economic progress and cooperation.
Canada's Fiscal Policy
"So, yesterday the Finance Minister, Bill Morneau responded with a tax incentive that featured an accelerated full cost allowance for capital investment. Canadian corporations could immediately deduct the full cost of any capital investment in new plant and equipment in the manufacturing and clean technology sectors. The revenue lost related to the tax change will increase the budget deficit by C$14.4 billion; other tax incentives will add another C$ 3.2 billion to the overall deficit."
By contrast, our idiots in congress could care less about targeting investments. They trust that business will invest, with the tax cuts. Trusting business to invest is a stretch.
Realtors Urge Fed To Stop Hiking As Existing Home Sales Slump Most Since 2014
Trump can't have it both ways.He wants low rates and a busted budget.
Well Known Facts Can Hurt You
Interesting article. Most of it is great. Not sure if tariff wars will undermine mainstreet, but they could.
This Chart Shows You What To Expect As The Market Top Nears Completion
It may be that bonds are a safe haven, resulting in that bubble continuing.
Macro Observations: The Trade War Doesn’t Mean A Trade Surplus
Trump doesn't care about shrinking the trade deficit. He only cares about intellectual property. China has the customers. We will soon be on the outside looking in. No sweat to China. China is surrounded by growth economies. We are surrounded by old fossils in Europe and Japan.
Who Didn’t Learn From 2008 Housing Crash?
A frozen market is not a market. Cold winds are blowing in housing.
Credit Spreads Are Blowing Up
Looks like it could vindicate Jesse Colombo's research.
China: Crying Wolf?
China is not tied to Basel mark to market. Seems like it is crying wolf. And if there is a trade war all out, China will have the customers at home while the USA will be excluded from billions of customers. Trump and the De.ocrats are seriously demented with their tariff war ideas. Republicans should have stood up to Trump a long time ago if they really cared about the USA economy.
TIC: You Really Can’t Say Enough About Not Enough Collateral
You wonder when lots of rollovers will fail to get rolled over.