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
No, Tax Cuts Don't Kill People
So, the author of this article can remain confident that cancer patients will still have access to treatments under a Republican regime? Without covering that issue alone, this article shows the meaning of lies, damn, lies and statistics. But the author is right that some low income people have had trouble affording the insurance through Trumpcare. I think that for those people, mainly young families, the repeal of the mandate likely brought financial relief. This of course shows that in many ways, the Democrats are out of touch.
Trump Probably Doesn’t Get The Demographics Of Immigration
So much for recovery, unless the people who have totally given up on work will all decide to work after years of losing skills to do much of anything. Trump's growth plan is highly exaggerated, prof.
Inside And Outside, Market And Models Actually Agree On A Final Failing Grade For Yellen
Growth is going to raise interest rates. Some say raising rates will spur growth. But banks have bet on low rates. Destroying the new normal could make trillions of dollars of interest rate swaps radioactive. You know there was danger in crossing the streams in Ghostbusters. But variable rates banks bet on cannot cross the fixed higher rate stream or the too big to fail banks will melt down. Crossing the new normal has ominous danger to world finance unless banks are seriously hedging against this danger. I don't know if they are doing much of that.
The Depression Of The 1930s Was An Energy Crisis
Commodities ballooned in 2007 and that resulted in a crash soon after. High priced energy drives wages up. Low priced energy drives wages down. If that is the essence of this interesting article the Fed is happier with the low wage scenario.
Brexit To The West And Polexit To The East?
I think there is a big push for a United States of Europe. Germany may not be hot for it, but would go that way rather than see the Eurozone unravel. With Germany, it is always me first.
Inside And Outside, Market And Models Actually Agree On A Final Failing Grade For Yellen
Yellen doesn't believe she has failed, Power Hedge. If you read Dr Williamson's blog, 1.5 percent inflation is no big deal, no big failure. He is no longer St Louis Fed VP but his ideas carry weight still. Yellen has now told us on her way out that the long bond yields have nothing to do with the health of the economy. I am sure she says this because she wants wages kept in check. The Fed is perfectly happy, with the exception of Kashkari, to believe NeoFisherian doctrine while not really wanting a NeoFisherian reconstruction. In other words, higher interest rates on the long bonds simply cannot be permitted, or the banks holding a boatload of interest rate derivatives will become unstable: www.talkmarkets.com/.../trump-tax-cuts-and-yellens-new-normal
What Really Drives The Housing Market
Ha, the inability to renovate was a feature for you, but not for your wife. Funny article.
TIC Points To ‘Dollar’ Redistribution As Much As Possible Supply
People have to continue to be blown away by Jeffrey's understanding of world markets and their impacts on the USA.
Tax Reform & The “Japanification” Of America
Helicopter money is the only way to grow the economy as labor gets weaker continually.
Tax Cuts Are Too Late To Avoid The Next Recession
Too much military spending and wars far from our borders.