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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Not Every Bond Investor Is Afraid Of Inflation
Another excellent article allowing people to see past the short term dust flying.
Inflation Could End The EU
Germany is the bad guy here. The Germans don't own homes. The Italians look at the Germans, who don't own homes, like they are poor. The Italians know they could print money if they had their own, which is why Germany would make a mistake in not wanting the periphery nations formerly known as PIIGS to be saved. I think Draghi should do helicopter money instead of buying assets, so that the gap between rich and poor would not keep increasing. But so far most central banks are afraid of letting off the populace with free money when they have to borrow now.
Will A Predicted Gold Price Drop In 2017 Make It A Good Time To Buy?
It will be interesting to see if rate hikes fail to affect the long end. I think that is likely. JMO.
Money Under Fire
So much debt is now gold, an asset in itself, that it offsets other debt in some way. It is hard to understand, but debt is collateral and it is actually higher grade collateral than gold itself!
What If Unemployment Goes Below Zero?
I honestly believe the Fed could care less. If you read Stephen Williamson's personal blog, and he is the VP of the St Louis Fed, he seems comfortable with slightly negative interest rates. There is not complete agreement at the Fed, but I think they are not afraid of ZIRP and even NIRP. They should be but they aren't.
The Delusion Of A Four Percent Growth Rate
I think a lot of people who have dropped out of the workforce are rural folks. So, getting them back into the workforce could be very difficult.
China Tells Trump “Nothing To Discuss” If US Drops “One China” Policy
This is a terrific article. Yes, the Yuan could crash. And about Taiwan. It has some autonomy now within the sphere of Chinese influence. Take that away and Taiwan could cease to have any autonomy. I think Trump is making a big mistake using Taiwan as a bargaining chip. I think Steven Moore is being reckless in his statements.
Monday Madness: Goldman, Generals And Gazillionaires
Wow, I hope satire and The Onion, etc., don't qualify as fake news. That would be a terrible affront to free speech.
Trump Part IV – The Causes And Uses Of An Economic Crisis
Al dos not understand that manufacturing is slowing everywhere and that, as Kyle Bass has said, real helicopter money is the only real answer in this declining environment. Europe runs trade surpluses and it has not helped manufacturing.
Top Hedge Funds Predict How It All Will End
So many people do not understand real helicopter money, which would be a one time event, not a continual process. There is no reason why a one time event should cause hyperinflation.