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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A Positive Start
At 6:25 PST, Wilbur Ross gave no assurances and tells investors not to lose confidence even without a trade deal. Beware: finance.yahoo.com/.../...ce-unknown-142509822.html
A Positive Start
China and the USA resuming talks seems to be only for the ears of gullible investors. Talk means little.
US Economic Output Running Well Above Potential GDP Estimate
I don't understand the bend of the red line showing potential GDP. I don't understand why potential GDP would decline regarding its rate of growth. Historically capacity utilization has been higher as well. We are not even at 80 percent!
Comcast Drops As Trump Hints At Anti-Trust Violations
Too bad Trump revenge clouds every single issue he promotes. He is more a freak than a president. We knew he was odd, but he is way worse than just odd. He is a danger to himself and others.
For The First Time In 5 Years, China Drops Key Currency Pledge In Sign Of Growing Angst
Pete Navarro basically said, to hell with Wall Street. This sounds like a signal that further tariff attacks are imminent.
The Economic Consequences Of Debt
The only problem I have with this article is the idea that social programs are squandered money, and the idea that crushing the major banks in the Great Recession would not have been a problem for the economy. This is Libertarianism run amok. My parents lived through the Great Depression and they viewed FDR as a hero. Most people did. It was Hoover who was the villain.
Yet Another Trillion-Dollar Unfunded Liability, California Wildfires Edition
Of course, Bill. Fires are also terrifying. I have been on the edge of two major fires. My point is that the financial cost of hurricanes is greater. Trump was saying fires could be managed. Well, where is the wall in front of Miami to stop hurricanes? Trump talks about prevention. If he wants walls, build them for hurricanes.
Yet Another Trillion-Dollar Unfunded Liability, California Wildfires Edition
At least the author acknowledges that California fires are nothing compared to a hurricane like Katrina and multiple hurricanes.
Global Smartphone Recession Confirms Consumer Downturn
Location may be key to service in the cell phone arena. I wrote an article about cable, so I know they are a problem and cell phones have improved from the old days: www.talkmarkets.com/.../should-cable-tv-fear-att-directv-now
Home Prices Are Now Plummeting In These 8 Major Cities
I have often wondered how the millennials and their offspring will sustain wildly inflated median home prices over time, especially as world prosperity is weakening..