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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Trump Redraws The Thin Red Line In Banking
So, if this happens, I assume the Fed could not "guarantee" derivatives by making them senior to deposits in the FDIC system? And this could possibly eliminate too big to fail future bailouts? I think that is likely not going to happen.
100 Year Bonds In The Trump Era
Let's be clear. The current folks advising the president, with the possible exception of Mnuchin, hate the new normal. Well, there is good reason to hate the new normal. But, taking the collateral of the new normal down by not paying interest on US bonds will be a dangerous way of overcoming the new normal. The financial meltdown that would result would be catastrophic. A better way would be to substitute commodities for bonds, and that would still be messy.
100 year bonds make much more sense.
Fed Will Cause A 2008 Redux
The Fed definitely loves recession and the new normal, near recession, way more than unbridled prosperity and wage growth. Lending and retail are slowing. The Fed has the economy right where it wants it.
Can Self-Driving Cars Ever Really Be Safe?
Before you lock in that position, Kurt, you may want to read this: www.talkmarkets.com/.../top-ten-reasons-self-driving-cars-are-useless
Can Self-Driving Cars Ever Really Be Safe?
Tell me now it will be safer if autonomous cars have no power to merge into traffic? How will it be safer when autonomous cars cannot even detect a ball in the street, or a motorcycle? And, this is what will happen, people will pay extra for the technology, but will soon become disenchanted with it. As a researcher said, autonomous cars will never, ever be able to navigate construction zones. So, fully, and autonomous are mutually exclusive terms.
War On Cash Turns To $20, $50, And $100 Bills
The excuse they give, Barry, is to blame their desire for cashlessness on the behavior of criminals, when they really don't want cash to be a tool for bank runs. Their real concern is the run on banks, and they are dishonest enough to continually hide that fact.
Congress Panics As US Oil Assets Could Fall Into Russian Hands If Venezuela Defaults
Silly concerns deserve silly responses. Give the Russians Part ownership of Fox News since that organization has embraced all things Russian.
Why Switzerland? AAA!
Tax compliant is certainly becoming the buzz phrase when it comes to hiding money.
Fed Balance Sheet Shrink: Big Problem Or Non-Event?
The Eurodollar market is shrinking. According to some, that impedes investment in the USA and therefore, growth. And it is seen as a tightening. I agree that going negative, nominally, is where we are headed if they don't raise rates more when there is a little prosperity. Only problem is the dollar gets stronger.
Why US Growth Cannot Exceed 3%: Look No Further Than Demography
Lol, Prof, Jeff Sessions just announced that our borders are closed for business. America isn't interested in demographic growth. Americans don't want legal or illegal immigrants, it seems. So, really Trump will do little for the economy in the next four years, then plead for reelection because he secured the borders. I wonder what the unemployment rate will look like then?