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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"There Are Basically No Sales": U.S. Auto Industry Enters Total Collapse As A Result Of Nationwide Lockdown
Really bad news for salesmen. They live with uncertainty when times are good.
Infrastructure Spending Will Not Create Jobs
The trade war will turn Chinese buyers against us. Asia really does not need the US. Other than the need for Fed helicopter money, it is monetary policy that will bring back jobs unless we run into a huge credit crisis.
Economies Won’t Be Able To Recover After Shutdowns
This article looks into the abyss. Tough read but a possible scenario.
MMT Is Now A Reality
This feeble replacement by the Fed may be too small. It does not come close to replacing end demand.
What Does An Infected Leader Mean For A Country's Economy?
Flying seems to create a massive risk for the Coronavirus. That will hurt Las Vegas and Florida who rely on tourists. Trump is infected with something. Apparently not by the virus at this time. He saw his home town with the dead bodies and that has brought the seriousness of the virus to his view. That unfortunately, is what he needed to see.
Central Bankers’ Real Challenge Is To Manage The Yield Curve
Great article. Yield control is for real now. How it works, nuts and bolts would be something helpful from you, Prof. It is a no growth policy, as banks won't lend with zero rates. But at least it keeps things in place. We really need helicopter money if this virus creates a longer slog.
Las Vegas Pandemic Disappeared. Trump Knew
Update 10: The FDA has just approved the malaria drug for treatment of Coronavirus. It is in short supply. Only take it from a physician!
COVID-19 Crash: How China’s Economy May Offer A Glimpse Of The Future
If deaths were higher in China, we should be concerned. But if China beat this, factories will be much safer going forward. We could learn from that.
COVID-19 Crash: How China’s Economy May Offer A Glimpse Of The Future
The only difference between the US and China is that China knew what it was doing and Trump does not. Hard to measure that level of incompetence.
Pandemiconomics
Not cheerful, but very interesting.