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 U.S. Personal Savings Rate Is At A Twelve-Year Low
Well, at least it is nice to know that global savings gluts don't have much to do with the man on the street!
Kroger (KR) Meets Q4 Earnings, Beats Sales, Guides FY18
There are 6 Kroger stores for every whole Foods.
Trump To Sign Tariffs Proclamation Tomorrow, No Carve-Outs
This can't go well. Industries in America could become less competitive in world markets.
Hallelujah! The Goldman Sachs Regency At The White House Is Finally Over
Fun rant. Angry rant. I think the Fed has to take down stocks and it probably won't be a long time before that happens.
Corporate Tax Cuts: Taking A Page From The Japanese Playbook
To qualify for tax cuts, Japanese businesses must raise wages. The Fed thinks inflation is the problem, so our tax cuts didn't require that. The results could then, be quite different here.
Shake Shack: Impressive Expansion But Profit Concerns Weigh
Shake Shack is popular, trendy, with quality. But I can't get over the limp, non caramelized hamburger buns. I can pay half price to get a caramelized bun at In&Out.
Trump And Tariffs – Not A New Risk
Yes, he is scoring early. But the Liberty Fed boys certainly see trouble if long bonds seriously weaken in price.
Trump And Tariffs – Not A New Risk
Trump wants to break the New normal. But the Fed wants to break Trump. I think the Fed, for good or bad, will win.
Uber Self-Driving Trucks Delivering Goods In Arizona
There have to be backup drivers in snow. And Uber must state how many times drivers had to take over. That is a secret so far. This is overjoyed malarkey.
That's Not A Bond Bear Market
Interesting article. Inflation will be tamed, though. The issue you pointed out is whether the Fed will invert the curve. You say that the Fed is unwilling to do so. But there is no proof of that. The Fed has to invert the curve or apply other means to slow down a hint of overheating. Too bad these vigilantes couldn't wait for a little more prosperity to occur before all this happens. They are so afraid some worker might make a little more money.