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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Tesla: Stuporman
At least her underarm hair almost matches the hair on the top of her head.
When Economist Become Demagogues
And one more thing. That you would call economists demagogues while we know the Demagogue in Chief is now president, is brazen.
When Economist Become Demagogues
I can't believe you buy into Trump tariffs, Morici. Perhaps you should realize that the American consumer could be hurt more than any in the world if the trade war escalates.
Amazing Revisions And Alleged Thrifty Consumers
Nice way of exposing total baloney, Mish.
Talk, Why Don’t We?
China and Europe should kick the can down the road. But opening up trade to the world when we are already nearing full employment may do little.
Bank Warns Federal Reserve To Reverse Course
It is thought provoking. I say the Fed eventually has to crash the stock market simply because it fears what full employment can do, especially with the Trump tariffs piling on and immigration slowing. Add to all this that there are margin calls when bond yields go up and you really have a problem. Letting inflation fly away would impact those bonds and the margin calls come with even a little fluctuation as Jeffrey P Snider has pointed out here: www.talkmarkets.com/.../tic-in-june-2018-the-questionable-collateral-aftermath-of-may-29
TIC In June 2018: The Questionable Collateral Aftermath Of May 29
This is a great article. This is the sort of thing that has to be ferreted out. Finding out who supplies this paper is important in determining the soundness of the collateral, in determining counterparty risk, etc. And also in determining if US banks are stuck with crap.
Puerto Rico: The Ball Is Rolling
This must be Trump's lying promise to forgive Puerto Rican debt. After letting 1500 people or likely more people die, the schmuck can't even get debt forgiveness for the tiny island filled with US citizens.
Say No To Currency Contagion
Interesting. Contained to subprime currencies. Lol.
Tesla Sues The Government Of Ontario For Ending EV Incentives
Tesla fatigue.