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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Coup D'État That May Shake The World
Oh, well, there are mixed signals, Larry, as you well know. Retail sales are down. There is a weakness on main street. Trump painted a rosy picture about jobs and wages today. That could help retail. But generally, debt and defaults in the private sector at high levels shows recession is on the way.
Coup D'État That May Shake The World
I thought he said fairly soon.
Coup D'État That May Shake The World
Companies should be in cash, not buying back shares, if a recession is likely.
The Economy Will Lose A Few Teeth
Meanwhile we will see if the Russians call mankind's bluff by threatening the very warships that will launch the missiles, the nice, shiny new ones.
Why You Should Care About The LIBOR Crisis
John, the goal is to rid the world of LIBOR. How do you think that will go?
U.S. Debt Problem Gets Worse
Higher interest rates? People still talk about those?
Taking A Long View
Fascinating discussion of HSBC and international banking glitches. It is also a great argument why going cashless can put travelers at risk in the future.
Milking The Savers
It is always hard to tell how much gold is propped up in price by....credit! But if people fear deflation, gold isn't gold, treasury bonds are gold.
Dow Triumphs Amid China’s Tariff Retaliation
Recent announcements show Trump upping the risk, once again.
Not Your Grandfather's Trade War: The Revenge Of Bad Money, Part 2
There is no solution except helicopter money.