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
Asian Markets Crushed By Capitulation Carnage
Maybe China needs to get rid of all that hot money anyway. Then the Yuan can dive, which is the greatest fear of the Munchkin.
The U.S. Treasury Sell-Off Needs To Be Confirmed By Inflationary Pressures
While the Fed may be jumping the gun, it is Trump's fault. Massive spending preceded by tax cuts and inflationary tariffs have boosted Powell's plans. But the argument could be made that the tax cuts will pass, having gone to the wrong people, the wealthy. The argument could be made that tariffs are ultimately recessionary, not inflationary. The argument could be made that regular people do not buy many houses anyway in the USA. That all seems deflationary to me.
Whirlpool Corporation: Do You Have The Guts To Be Greedy While Others Are Fearful?
No argument as to Whirlpool's quality compared to imports. But can anything be spared from tariffs? Even non tariffs steel has gone up in price. Unless this inefficiency is corrected, margins could be massively squeezed.
Nasdaq Down 5%, DOW And S&P Down Over 3%: Just A Start
The Chinese have to be laughing, no matter what Jim Cramer thinks.
Markets: Muddling - Wednesday, October 10
The other Fed people have said neutral is not good enough. Are they aiming for just south of 4 percent?
Luxury Goods Makers Fall After LVMH Earnings
If China slows the travel to the USA, it will hurt our trade deficit even more. Are we winning Donald?
Fed Credit And The US Money Supply – The Liquidity Drain Accelerates
Excellent study of money and collateral.
Why Is The Bank Of Canada So Focused On The Output Gap?
Negative rates have proven to not be the stimulus many economists hoped for.
Average Small Cap Stock In “Bear Market” Territory
Small caps were supposed to benefit from tax cuts. What is going on?
The Phillips Curve Myth
I don't always agree with Mises, but the answer to this dilemma is Helicopter Money. The money must reach everyone. www.talkmarkets.com/.../kyle-bass-says-helicopter-money-is-the-only-way-out