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
It's Not Just Bernie Vs. The Big Banks
Actually, though easy money should be curtailed, probably by reserve requirements, Dodd-Frank plays into the hands of the banks by requiring collateral for derivatives. While collateral is good, using treasury bonds as collateral is very bad. It is messing up the bond market and pushing yields down.
The Bond King Speaks
The Fed can't raise interest rates by much in order to slow the economy, since the banks have bet on low rates and bonds as collateral are in massive demand, so it keeps the economy slow in perpetuity.
Simple Janet - Jabbering On The Edge Of A Live Volcano
Well, negative interest rates on bonds is more suicidal than a small amount of inflation. The Fed does not want to tread where Europe is walking, but I think that they don't fear a little negativity. I would. What if a little negativity does not spur the economy in a downturn? Then what? I don't like inflation either, but it has always been a sign of some prosperity. Prosperity is now just hanging by a thread.
And besides, GDP is more important than inflation and should be carefully watched.
Jim Rickards On The Confused Fed, Gold Manipulation, And Negative Interest Rates
I totally agree that people are likely to save more to catch up if there are negative rates on retail banking accounts.
Jim Rickards On The Confused Fed, Gold Manipulation, And Negative Interest Rates
Gold is money like DHEA isTestosterone. One step removed.
John D's Unquiet Grave
The Rockefellers are globalists. They are also futurists and some are eugenicists. This does not surprise me, Vivian.
How I Would Vote In Israel
I just saw this article and I am proud of you, Vivian. While we may not fully agree on all things about Israel, (and I don't know that for sure), I am for pushing the peace process forward. Not sure it would be changed by a popular vote but it could if Israel perceived a solution to be in its national interest.
Manufacturing In America: Are American Jobs Worth $30 Socks?
Not sure about socks, but I would not buy dog food from China. They had their chance. Pets died. So, yeah, I would pay a little more for made in America. I already do. And if you buy a house made out of Asian wood, you will likely be sickened by the formaldehyde. Buy American!
Draghi Has Ruined Europe
He wants negative bond rates so Germany can be financed by bond buyers. That has got to be his plan. I wrote about it here: www.talkmarkets.com/.../draghi-and-germany-have-a-secret-plan-to-save-the-eurozone
The Costs & Consequences Of $15/Hour
All work is dignified, including flipping burgers. Incorrect flipping of burgers can make you sick. You can see I am tired of the argument that defends dividing jobs into worthy jobs and unworthy jobs. This separation of jobs is pure Wall Street propaganda. One can hope that this wage increase would increase the velocity of money on the main street level and bring more prosperity.