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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Latest Comments
What The Real Estate Cycle May Tell Us About Stocks
Great article showing inventory spike and interest rate increases. Only issue I have is that the Fed, according to some, is not adding ammunition by raising rates, but is rather driving natural rates lower. That will make things more difficult in a recession. Unfortunately their solution, let inflation run, will never be adopted by the Fed because of derivative collateral and counterparty risk: www.talkmarkets.com/.../fed-in-a-box
The Star-Making Sizzle Of The Economy
I went into a Sprint store recently. While I do not recommend ever doing that I was trying to help a relative. She could only get offshore customer service as I recall. The poor millennial we spoke to said not to worry, that Trump has an agreement to bring all those workers back to the USA. Lol. I can understand a millennial being bamboozled by Trump, but not Peter Morici.
Another “Strongest Since” Inflation Indicator
Asset inflation can be a tax if there is little wage inflation.
Why Are Banks Special?
Wow, banks are special just because of plumbing and payments? Really, Cullen? How about for credit or credit absence? That is the real water of the economy. And they take the water away when times get tough and make the water too available when times are easy. This is truly an alarming article. JMO.
Trade Tariffs Will Harm US More Than China
Dumb is, for the Fed at least, a serious disease, Moon.
Trade Tariffs Will Harm US More Than China
So, impoverish China and bond demand may wain. We could be like Japan and have the Fed buy all the bonds. Interest rates would go to zero.
Yield-Curve Apologists
I don't think the central banks are chomping at the bit to create inflation. I don't think this article is right. But then again, it could be.
Trade Tariffs Will Harm US More Than China
I am amused when #Trump says we are the piggy bank. Last time I recalled the holders of debt are the piggy banks and China holds an awful lot of our debt. There he goes projecting again, in this case a reverse projection, but harmful and deceitful nevertheless. Great interview!
Everyone Hears The Fed But Few Listen
The Fed could be fibbing a bit to justify it, but will offset fiscal recklessness. And Trump can't have fiscal irresponsibility and a trade war at the same time, at least to the Fed's way of thinking, unless the trade wars slow things down enough that the Fed won't have to.
All Is Not Well In Financial Markets
Most money is create in exchange for collateral. It is not created out of thin air. Helicopter money is created out of thin air and could be useful on special occasions.