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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Latest Comments
Ups And Downs
There is more risk to the downside with Trump than the upside. However, I think he did two things that were positive. He is talking about 100-year bonds, although the guy talking is a foreclosure CEO, not good for confidence of homeowners. Second, he is wanting manufacturing businesses that can be profitable to stay in the USA. But he needs to be careful, letting companies go that cannot compete worldwide without sending some jobs offshore.
Income Inequality May Resolve Itself
I would like to see it Jim. Thanks for the article.
Maladies Of Unemployment And Its Rate
Many poor men not in the workforce have criminal records, or do not have the skills to enter the workforce. It will not be simple to relocate them to where construction is needed but blocked, closed access wealthy cities. I believe Trump will not make these cities more open. I predict he will be able to build a few roads to nowhere but that will not get the job done. I could be surprised.
Income Inequality May Resolve Itself
Wealth inequality is far more important, in the long run, for national economic health than income inequality. I would like to see a modest once in 5 years wealth tax on wealth exceeding 2 million dollars.
Trump Should Absolutely Issue 100-Year Bonds
Hi, info is in the article I wrote about him: www.talkmarkets.com/.../eric-lonergan-precisely-defines-helicopter-money I think there are links to him there and an explanation of what he is trying to accomplish.
Weekend Reading: Trumponomics
Nice chart and resources, Lance. I wrote about Trumponomics, Bannonomics and I guess you could say the new Trump team idea: 100-yearbondonomics. Clearly, there are limitations to each of these, with Bannononomics being dreadful, but the 100 year bond may help on the edges.
Repeal Of Dodd-Frank Could Have Big Consequences
While the new normal pushes rates down, it would be great if rates were just a little higher, which would allow for #banks to take more risk in lending. I don't see rates exploding, however.
Trump Should Absolutely Issue 100-Year Bonds
I still think monetary or very long bond solutions are preferable to shorter term deficit spending. #Trump people are at least talking about the 100-year bond.
Trump Should Absolutely Issue 100-Year Bonds
Historically David, yields have a range of around 3.5 percent to 5 percent. The US should be on the low end.
Trump Should Absolutely Issue 100-Year Bonds
I agree Norman, helicopter money should be a one time event for no more than 18 months, according to Eric Lonergan. But for government, lifting the burden of rollover debt could be accomplished either way.