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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What Killed The U.S. Consumer, In One Chart
Obamacare pay plan was thought up by the Heritage Foundation in 1989.
Is Japan Falling Back Into Deflation? Only One Monetary Solution Left
If the people would demand that the Fed pay out HM, it would change things on main street. But most people have no clue what the central bank does, or doesn't do.
Why I Love Banks
Fun article. However, the banks could be hit by the LIBOR cases now brought back to life. Most people are dismissing those as nothing to worry about. But, If the banks have to pay back even a small portion of the money they won by pushing LIBOR down, it won't be a modest sum.
Negative Interest Rates Set To Propel The Dow Jones To The Stratosphere?
I am thinking that people will just save more if they see that the interest rates are negative. They will see that the economic system is desperate and will not jump in to riskier investments. They will pull money out of banks, and if cashlessness is tried they will save more, knowing that bubbles will not be sustained. If they lash out it will be to shoot their local bankers, even though they were not at fault for this. This is a very dangerous game central bankers are playing.
I don't advocate physical violence. The Fed needs to ponder all this very carefully. It already screwed the middle class of America, thinking the Chinese would take over. Well that didn't work out so well did it?
Negative Interest Rates Set To Propel The Dow Jones To The Stratosphere?
Two chinks in the slow growth armor. One is Japan and the other is an angry American electorate that is contemplating voting for somebody like Donald Trump!
Oil Climbs Over $50: Can Investors Bank On A Recovery?
A lot of this rise is speculation brought on by BOJ intervention.
Japan Is Practicing Tranche Warfare. Abe Is Frightened!
Correction: Japanese investors take the low, floating side of the bet as they are betting on continued deflation. The Japanese banks are likely taking the high, fixed side of the bet as they are betting on inflation.
Bill Gross Goes Against His Instincts, Turns Bearish On Bond Markets
So, demand for bonds is massive. Why would that process come to an end?
Quantitative Easing And The Corruption Of Corporate America
So, if buybacks stop, won't they be proven futile? If the stocks end up losing value, all that money will have been wasted. But obviously companies don't have confidence in research and development.
Eurozone And IMF Reach An Agreement On Greek Debt
So, will investors be assured of growth in Greece? Who would want to invest in a nation who has massively falling GDP? I suppose if enough investment took place, then it could add to GDP, but will that happen?