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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Shake Shack Confirms Worst 'Minimum-Wage-Hike' Fears - "It's Going Up Too Fast... We Can't Catch Our Breath"
Good grief. Giving labor a fair share of GDP is not socialist. Capitalists will never learn.
Long-Term Interest Rates March To Their Own Drummer
Well said. It is being advertsed as fear. But some argue that the new normal is a function of the Fed being too tight. Fear of Fed liquidation of stocks and real estate seems to be legitimate. But there is always uncertainty.
Can You Afford To Die?
I think you have to look at it as a tax on heirs, not on the deceased. Then it seems more just, at least to me, anyway. And people won't be needing coda increases on the other side. :) So let it be taxed.
Long-Term Interest Rates March To Their Own Drummer
Lol, Prof, Greenspan is such a kidder. Bond demand was high with hoarding going on in the 1990's, and bond were hoarded then. Greenspan was not surprised, as he knows the score. He is a liar, IMO, and a really good one at that.
If people are in cash, they are also in bonds and in stocks. That of course, is not the way economic theory should work.
Are long bonds the sign of fear and economic collapse or do they have their own little supply and demand issues totally separate from other market forces? I think both these claims could be true at the same time. Certainly, the new normal is not healthy. But in times of prosperity, long bonds have been hoarded as well.
Shake Shack Inc. Tanks After Earnings, Zillow Group, Inc. Shares Rise
I hate to say it, but in Las Vegas, I see In&Out eating Shake Shack's lunch, no pun intended. Shake Shack has good meat, but wimpy uncaramelized buns. Or for short, Shake Shack has pricey WUB's. Fix that and you have a gold mine. But I don't think they care. JMO.
Disney To Test Self-Driving Shuttles Bringing A High Profile Name To The Burgeoning Industry
Probably a good idea for shuttles, as shuttles don't have to merge into traffic. Self driving cars cannot merge into traffic, so Tesla's accident statistics are bogus as is its leader, Elon Musk. That, of course, is my personal opinion, but there are scientists who share this opinion.
Pension Tension: Uncle Sam Walking Tightrope Into The Unknown
Cutting pensions is not the answer. The attack upon labor at least should be slowed at the government level. Taking away benefits set aside for labor will bite the capitalist, and has done so for many years now. But the answer is not to advocate for even more defeat for labor.
Brexit Means Brexit Bill
Well, I do not like the racist aspect of Brexit. However, economic growth in the Eurozone is slower than outside the Eurozone. And the plan was to get rid of the sovereign currencies. Was the author prepared to see the pound sterling disappear?
President Trump Wants To Upgrade The Government’s IT; Microsoft Should Benefit
You know, some of the old stuff has better security than the new stuff. AS 400 is used by some prosperous businesses just because it is secure. Upgrading stuff so the Russians can listen in would not be progress. Nice article though.
The Actual Underside Of ‘Solid’
Lol, Moon. Maybe solid is that which you get when you leave the economy out in the sun too long. Solid, then, is merely what is left of the evaporation process.