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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The Bond Market Is Calling The Fed’s Bluff – Things Aren’t Looking Good
Long bonds are pricing in financial trouble. If inflation does not help workers and lack of inflation does not help them, helicopter money is the only answer.
World Banks Are “Swimming Naked”
There are no good guys anymore. We are empire. Empires rise and fall. Are we the good guys anymore? No.
Germany Accuses Italy Of "Debt Blackmail": Hello EU, Time For Reform Expired
Italians own homes. The Germans see them as being rich since a majority of Germans do not own homes. Germany gets away with this clever trick, but maybe the party is over.
WTI/RBOB Plunge After Massive Surprise Crude Inventory Build
The gasoline vigilantes have parked their cars.
Forget About "Demand Deficiency"
This could all be true, except oil inventories rose this week. One wonders.
Central Banking Tragedy: The Case Of Japan
Japan fears inflation for good reason.
Highest Wage Growth In 21 Years: Richmond Fed
Lies, damn lies and statistics.
Decline To Negative In Personal Median Weekly Income Appears To Precede Economic Recessions In The US
Wages are tied to effective demand and certainly, any pullback in credit is procyclical, meaning it makes the decline in wages that much worse as banks pull back on credit, too.
Tesla Slides After Consumer Reports Warns Of Model 3 "Braking, Controls, & Ride Quality Issues"
Amazing what this guy throws onto the roads.
American Gridlock
By law, social security does not add to the deficit. Social security spending can exceed revenue when the government takes social security taxes for its own ends. Other than that, interesting article.