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
Here’s Why The Oil Price No Longer Matters
Very interesting! Wages could run a little hotter in the USA. But wages are like oil. They seem to interfere with the dominance of American and western capitalism that reaps excess profits until it doesn't.
Scott Sumner Destroys Financial Times Fear Of China
Update: If the USA is serious about protecting technology, then just stop US companies from accessing the Chinese market. Of course, China will get the technology by other means later, but US companies will be out of the loop. It appears that the USA government is overstepping its bounds. It wants USA companies to access China while maintaining control of all the technology. That has to be a slap in the face to China, and must be viewed by the Chinese government as being downright insulting. Don't look for progress on this issue as talks resume or don't resume. The talks don't matter if this issue takes center stage in the relationship between the two nations. Trump is either naive or wants to take the entire world economy down, including us!
Global Slowdown Hitting Vulnerable Canadian Economy
Trump is partly to blame for everything, but not completely. But to say Trump is not to blame is silly. We know Trump fooled the Saudis into overproduction of oil for just one aspect of this economic pain in Canada.
Why The Bank Of Canada Should Back Off From Further Rate Hikes
Seems like Canada is even more vulnerable to rate hikes than the USA, prof. Especially in the housing market. Yes, the banking and lending system more stable, until inflation rises and forces rates up. Then trying to rollover all these 5 year amortized loans will be hell on earth. There is no securitization, from what I read, but then, the banks will be flooded with defaults if people no longer can roll over the loans at the end of the 5 year period. What am I missing?
Peso, Loonie Tumble After Dems Demand Changes To NAFTA 2.0
Just proves the Democrats are morons just like Trump.
Which Observation Is Not Like The Others: US Inward FDI Again
I am not sure that Donald Trump even wants foreign investment. He must be thrilled. But surely, most rational human beings are not so thrilled.
Global Growth Falters: Italy Faces A Recession
German should be a lesson for President Orange. If your customers are weak, eventually you will become weak. Me first has a price to pay.
Auto Truce Is Over: Trump Again Threatens The EU, Japan With A 25% Tariff
Donald Trump is a little older than I am. There were three cars on the roads in the '50s. The Mercedes is proof to Trump of the fading of America. He wants Eurocars cleansed from American roads. He is not right mentally and has surrounded himself with an economic freak show led by Peter Navarro. That guy is an economist with dynamite in his hands.
The Waymo Tesla Self Driving Con
Did Waymo's Krafcik just come clean, saying self driving cars will not have widespread use for decades, and will always be subject to limitations?
A Positive Start
So, when Wilbur Ross says investors should not fear the unknown, I think he is saying a full fledged trade war is that unknown. He is saying don't expect much from talks with China.