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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Understanding The Dollar Strength
So if Trump were to win the trade war at the negotiating table, the dollar will soar. If tariffs drag down the world economy, the dollar could still soar. That part of winning was never contemplated by King Trump.
Oil: Trade At Your Own Risk
Trump wants tariffs and his Iran policy to win concurrently. That could be one of many miscalculations by POTUS.
Largest US Mattress Retailer Preparing To File For Bankruptcy
I have heard from relatives that they lose massive sales because of the credit difficulties. Apparently other mattress companies just do not have their issues.
Tesla’s Cobalt Blues; Spin, Fake News Or Deception?
Yes, Bill. Seems like the Carnival Barker who runs Tesla is almost in the Trump category in handling the truth carelessly.
How “Devilish Theories” Return To America
It isn't totally fake money. It is mostly secured money, though not gold backed. But I like the author's concept of debt as the wealth of the 1 percent. It sure looks that way.
Time To Worry About Inflation - And The Fed's Effort To Stop It
The Fed will probably cut a little wage inflation off too soon. The Fed has proven that behavior over the years.
Trump On Trade: Only ‘Screaming Foolish People’ Think Tariffs Won’t Make Us ‘Rich’
Trump says the Chinese are negotiating. But he wants to win that negotiation. I don't see him winning anything. And as the author says, his comprehension and seemingly unbounded desire to win even if the pot is reduced is unstable thinking. If you add his radical economics to his destruction of the constitution and laws of the nation, there is only one answer. He has to go. The nightmare has to end. Whether the Republicans will do that by initiating impeachment, or not remains to be seen. The base has a vice like control over the party, but things have recently gotten worse with the tweets, the shameful criticism of Lebron James, and the inability of the man to simply calm down.
Canadians Begin Boycotting US Goods
The more Trump does to inflame the Canadians, the more they will boycott. They can come to the USA and spend less as well. And growth of travel to the US is clearly in decline: www.talkmarkets.com/.../trump-fail-tourism-declines-in-usa
Can Deflation Fix The Damage Done By Inflation?
It is procyclical, not countercyclical, to liquidate a slightly slowing hot economy. Of course many argue that the US economy is far from hot. Problem now is that assets are juiced while the ability to buy assets through higher wages, is not. The distortion is now that capitalism is winning and labor is losing. That in itself is ultimately destabilizing and potentially recessionary.
China Will Be Hurt In The Trade War
So proof, if it costs 25 percent more to import a Chinese good companies could jack up the price 50 percent. It would still be cheaper to make it there. But our consumers would be adversely affect do.