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
less
Latest Comments
Mark Your Calendar, The ‘Era Of Helicopter Money’ In Japan Has A Date
So, the BOJ has set bond target at zero. It exchanges its printed money for bonds, and the bonds have no interest. So, really, the BOJ will not have to pay any interest out to the banks that deposited them. The assumption that interest rates will rise is a big one. I think Japan likes having a deflationary situation, and may have to add foreign workers at some point.
GM Sales Plunge 13% As August Passenger Car Sales Collapse
Wow, tightening end of cycle credit coupled with tariffs from Trump pushing prices up. That should about do it for the auto industry.
New NAFTA Is Just Old Protectionism And Bad Economics
I don't often agree with Mises economics, but when I do it is about the evils of tariffs. Trade free my friends.
Nike's Kaepernick Ad Has Cost The Company Over $3 Billion So Far
Burning shoes is like burning books. Makes it easy to spot the bad guys. Go Colin!
Will Britain’s Brexit Decision Accelerate The Longer Run Decline Of Its Economy?
Being in the Eurozone during the next downturn would severely hurt the Brits as well. Better to be rid of the eventual mandated single currency, like ripping off a band-aid. I am not a fan of certain tendencies of the UK to exhibit racism, but from a purely economic standpoint, the Brits will rejoice when they come out of the next recession more quickly than the Eurozone.
China And Korea Crash The Party In The Global Knowledge Economy
China could be the US's biggest customer. It is time that we let China prosper. It won't hurt to let more nations prosper. Trump looks at it like a national security issue. He is the true ugly American.
Personal Consumption Expenditures: The September Anomaly And The Fed’s 2% Inflation Ceiling
2 percent is definitely a ceiling.
Trade Trumps US Jobs And Rising Stress In Spain And Italy Is More Important Than The PMI
Tariffs are guaranteed to make US products uncompetitive in the world. Markets are sleeping.
Yes, The Trump Recovery Really Can Keep Going
China is the bad guy so Peter says. But Trump is the one who will make the world economy pay. By the time we find out who the real bad guys are it will be too late.
Trump Warns Canada "Fair Deal Or Out": Mish's Fair Deal Proposal
One more thing. Laffer says Trump is attempting to turn China into a proper country. Canada is a fair country. China is not improper for a developing nation with 1.4 billion people. Truth is, Laffer and Trump want to put these nations in their place and that is condescending as hell.