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 Is Trump Up To With All This Tariff Talk
It is pretty clear that history, plus supply chain constrains, will make winning a trade war virtually impossible.
Emerging Market Crisis Spreads To The Core, Central Banks Face Catch-22
So the banks the Fed is responsible for face risk with higher rates as that impacts emerging markets and with lower rates as those may increase inflation at home. Interesting article.
Will Small Auto Part Stores Survive Amazon?
Interesting article. Auto parts is a money maker for sure. These stores may have to increase market share by cutting prices to mechanics.
Another Amazon Panic – This Time Is Different For Pharmacies
I probably would rather go to a local pharmacy, even Sams Club, as opposed to subjecting myself to Amazon slaves filling my prescriptions. JMO!
The United States Is Becoming More Normal
While this is a very interesting article, it is the millionth in a series of articles warning about the inflation that never comes. It will be interesting to see if this time it is different!
Weekend Reading: Make America More Indebted
Social security is not financial assistence. Time to separate it out.
Irrational Beliefs Are Ruling Markets
In the Great Recession everyone fled to the dollar which went up in value. Jeffrey P Snider says there is a chronic shortage of Eurodollars. I look forward to more comments on this interesting article.
Emerging Market Exodus May Send The Whole World Down
I support the economics of globalization way more than the politics of globalization. But Trump will likely hurt world prosperity if he doesn't modify his ambitions.
What Is Trump Up To With All This Tariff Talk
We hope it plays out with compromise, otherwise it would be better not to play it out at all!
What Is Trump Up To With All This Tariff Talk
It appears to be planned. That is no guarantee that it is systemic or not subject to his passion for "winning".