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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Trump Warns Canada "Fair Deal Or Out": Mish's Fair Deal Proposal
Trump only wants to win and subjugate the trading partner after isolating that partner. He is really a dark heart. Truth is, trade is pretty level with Canada. The dark heart wants to win, which would likely create a shortage of dollars in the world and economic chaos.
Mark Your Calendar, The ‘Era Of Helicopter Money’ In Japan Has A Date
It is against the law in Japan to issue non sterilized money. So technically, bonds will still be purchased according to law. That means it is not classic fiat helicopter money.
Financial Crisis 10-Year Anniversary: What Went Wrong And Can It Happen Again?
The Fed facilitated the bubble by mispricing risk. The Fed scammed investors and then they stopped buying the mbs's. That is why investors have flocked to interest rate treasury derivatives instead and is at least part of the reason why long bonds yields are low.
Trump Says Google, Facebook In "Very Antitrust Situation"
For the most part, Trump may be getting what he wants. He said there was a need to crack down on fake news. Most fake news comes from the right. Be careful what you wish for, POTUS.
Bitcoin Daily Forecast - Friday, August 31
Other than using the words comfortable and Bitcoin in the same sentence this is an interesting article.
Can Tesla Hold $300? And Some Other Random Thoughts
What happens if the quality of the model 3 fails or if cars sell for a loss? These seem like unanswered questions in the light of Musk's promises made in the past that have undermined the stock. Don't mortgage the house for this one. JMO.
The Recovery In Agricultural Futures, Post-Tariff Imposition
Are we winning? Only if Trump turns off the tariff war, and even then we may not get back trade lost.
The Economy: Winter Is Coming
Interesting. Chilling. See how it plays out.
What Has (State) Government Done To Our Money?
If gold and silver were money they would be used as money more widely. At least they are better than Bitcoin. JMO.
Consumer Confidence Is Through The Roof; Spending, Not So Much
Smoke and mirrors drive phony polls.