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
Warning: The Everything Bubble Is In Serious Trouble
What is interesting to me Seth Golden, is that the Fed always says it ignores CPI and runs with PCE, but maybe 10 year bonds factor in CPI afterall. And even with massive demand for bonds, that trend broke. Prior cycles had less demand for bonds as collateral. So that point difference may not mean much in the new normal.
U.S. Energy Independence? Still Importing Nearly 8 Million Barrels Of Oil Per Day
Destroy as in junk bonds being destroyed or shale oil being totally run out of business? Interesting article.
As Trump Lifts Sanctions On ZTE, Senate Restores Sanctions In A Defense Bill
This may force Trump to compromise his ill fated tariff plan on other fronts or he would just have to not sign the defense bill.
Another Rebuttal To The Idea That Target2 Claims Are "Fictional"
So, the basic argument is the target 2 is not a big deal: https://www.bis.org/publ/qtrpdf/r_qt1703u.htm
Another Rebuttal To The Idea That Target2 Claims Are "Fictional"
This target 2 issue is interesting. The question for me is whether Italian banks would sit on excess reserves coming for the central bank and not spend them out into the Italian economy.
Weighing The Week Ahead: Anything Goes!
It appears that credit is tightening in the auto sector, anecdotally. And this is without tariffs!! www.forbes.com/.../#10ed06e22dcb
For The Millionth Time: Investors Exaggerate Trade Tensions At Their Own Peril
There is a time and place for capital preservation. If the stock market does not vote, Trump will look upon tariffs as a win, when clearly there are parts of the economy that are losing and frankly are suffering: www.talkmarkets.com/.../suicide-watch-farmers-are-hurting-mr-trump
The World’s Weird Self-Organizing Economy
I would not feel comfortable having nuclear power close to earthquake faults. Maybe it is just me. But there are other alternatives, but as the author says they are not necessarily enough to bridge the gap. So, energy affordability and proper pricing is very important to the economy. Americans are buying expensive large vehicles more and more. This could squeeze energy in the future.
Fake Gold – Silver Explosion – End Of Bull Market
For those interested in buying gold this article could make or break an investor.
The Everything Bubble Hits A New Record… Right As Bonds Begin To Drop
Bank of America accused the Fed of intentionally creating bubbles by deilberately mispricing risk.