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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Fed To Let Inflation Genie Out Of The Bottle
A little inflation in wages would be nice. But that is not the Fed way, goldbugs.
Is A "Cashless" Society Viable?
I went to a restaurant last night. The payment system was down. I was only able to eat because I had cash.
Issuance Of Unsecured Personal Loans Is Soaring
Seems like these loans have a more Fiat feel to them. The unsecured loan are different than money issued by securing property or something of value.
Eurodollar University: Dark Money
Oh, there were plenty of families, pets and marriages destroyed alright. I witnessed some of this destruction with my own eyes.
If you google dark money, all you get is political money. Hot money is that which enters markets and causes instability, bubbles and crashes and inflation and deflation and the like: https://en.wikipedia.org/wiki/Hot_money
Buybacks – Boosting Returns Or Liquidating Companies?
Seems like a Ponzi scheme that could end.
Money System: For Wonks And Quants
I can't comment on the entire article. But clearly, the idea of cheap payments will draw businesses away from cash. They want cash now, because it is cheaper than using charge cards. I fear this new system will play into the hands of the big banks, and will ultimately destroy cash in favor of the very banks Ellen wants to prune.
This is a very poorly thought out direction for Public Banking and Ellen, IMO. Cashlessness is the goal of the banks and the banks won't make money off credit cards, but they will make money off deflation and negative interest rates. You will pay those banks interest if cash is no longer an option. You pay banks to save, and that is perverse!
Bank Warns Federal Reserve To Reverse Course
Trump wants to break the new normal. He doesn't even want foreign nations buying our bonds. So now hedge funds are buying our bonds. That puts more risk within the USA.
Trade War And Tightening Supply
And a financial crisis in China is supposed to help the USA?
San Jose, CA Real Estate Market Trends & Analysis
The risk is tariff and POTUS related. Not enough homes are being created. High rises are not popular in earthquake country.
Trump, Tariffs, And Economic Honor: The Trade War As A Form Of Retributive Violence
The author is being too kind. Honor ideology when we have the reserve currency is very odious. But interesting article.