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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Why The U.S. Pulling Out Of The Paris Accord Was A Real Mistake
So what? It is going to happen anyway? Why throw good money after bad?
Winner & Losers From Amazon’s Proposed Purchase Of Whole Foods
Amazon is planning on cutting staff at Whole Foods, which will likely make shopping there a miserable experience. When people see the real Amazon at work, in the real economy, they will be able to form their opinions about how things might be in the other sections of the company. A filthy Whole Foods will tarnish Amazon.
Make China Great Again: Ford Bypasses NAFTA Dispute By Moving Production To China
He can't handle the truth, Mish. This is a disaster for both Mexico and for Trump.
Labor Share Of GDP Has Been Dropping In The World’s Four Largest Economies
The new normal has been in the works for awhile. Minimum wage should be over 20 bucks an hour based on what it was in the 1960's.
The Fed Is Behind A Different Curve
But, the negative rates are minor so far Prof. I think Sumner was talking about 4-5 percent negative. At what point in a downturn, does negative become dangerous?
Treasury Yields: The Long-Term Perspective
It certainly is not all explained by QE. Without QE the 10 year has been in a steady decline as your chart shows.
The Pin To Pop This Mother Of All Bubbles?
I agree with you and Jeffrey Snider that things are definitely are not optimal. People adapt, and have consolidated to multigenerational housing and underground economy in many instances just to survive. The pressure of globalization with a downward pressure on wages and an upward pressure on housing costs could eventually reach a breaking point. The central banks need to at least let main street consolidate before stealing again.
“Major Deflationary Disruption” Says Cramer About Amazon Purchase Of Whole Foods
It will be interesting to see how this plays out. I would not trust Amazon with any of the food I buy, especially fresh. I noticed that stores like Kroger already have some online ordering, and you just go pick up the orders. It is not a big hit. People prefer to squeeze the melons and there is nothing that Amazon can do about that.
The Fed Is Behind A Different Curve
Yeah, but I can't trust a guy who wants negative rates either. He lost credibility when he opted for the negative. That doesn't mean he is wrong, just that he is dangerous.
Fiscal Policy Works - A Monetized Fiscal Policy Works Even Better
IMF stands for In My Fantasy. The numbers seem to be a bit rosy, especially if the governments do not want more fiscal stimulus. The Republicans are scared that they won't be able to give the wealthy a tax break if they start spending too much. I don't think the IMF has solid footing for all this growth. China and India may grow but if consumer demand goes down, what will drive it?