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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Stocks, Yuan Tumble On Report US To Announce Tariffs On All China Imports If Trump-Xi Meeting Fails
Trump is playing hardball with the US consumer. He thinks he is playing Hardball with China.
Why Public Debt Is A Problem — And Trade Deficits Aren't
Not a fan of Rothbard but this is a common sense, important article.
Will October's Swoon Turn Into A November Boon For Investors
Oh no, Edward Lambert the effective demand economist. Yes, the other one has been in the news for running Sears into bankruptcy.
Will October's Swoon Turn Into A November Boon For Investors
Correction. That post was not correct. Edward Lambert predicts a contraction starting in the last half of 2018, meaning, I suppose, a continuing decline in GDP. Sorry.
Will October's Swoon Turn Into A November Boon For Investors
Lambert is calling for a 4th quarter recession.
French FinMin: The Euro Zone Is Not Prepared To Face A New Crisis
Italy is the tail and it seems quite capable of wagging the dog, the EU.
Weighing The Week Ahead: What Do The Mid-Term Elections Mean For Financial Markets?
If the author fears frightened investors, this is a condemnation of the casino that Wall Street has become. Perhaps if there had been no dot com crash or Great Recession, investors who are getting older, would have more confidence.
Only Twice In History Have Markets Been This Ugly: The 1970s Stagflation And The Global Financial Crisis
The masses desperately need a bone. The Republicans did not throw them a bone. Effective demand is screaming recession. Even if JPMorgan is right, most people want to sleep at night. Boomers are getting to old to play the game. Auto sales are slowing and the housing market has become comatose. Volatility was created when Goldman Sachs alum created a massive deficit that stimulates only stocks. It isn't fun to be in the market anymore. Wall Street is clever, but people remember dot com and the Great Recession.
High Interest Rates Could Hurt Automakers, Auto Stocks Could Tumble
Add the price of steel and other tariff issues and a meltdown is possible.
The Market's Exaggerated Earnings Worries
Auto sales slumped 20 percent in September and housing is in the deep freeze. Seems a bit optimistic. And what about share buybacks when profits diminish?