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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The Secret Minority
The globalists are a multiracial cabal of folks who are dangerous to all that America stands for.
The U.S. Economy's Problem Summed Up In 1 Simple Chart
Well, if they paid the workers enough to buy it they would buy it. But worker wages don't give enough purchasing power.
Why Portugal Is Important Even If You Have No Direct Exposure
You have to wonder how strong Germany will remain what with Volkswagen and Deutsche Bank having issues.
Why Japan Went NIRP: No More Doubts About QQE
Fascinating article. Market monetarism would have been more effective prior to a crash, when central banks were watching inflation and thinking things were ok while the GDP was tanking. It doesn't seem to be working too well to push up inflation from low inflationary numbers after a crash. Same for Sweden as Stephen Williamson pointed out.
Perhaps the only monetarism that would work after a crash and during times of deflation or near deflation is to simply give the regular guy money, and you could use helicopters only I suspect there are other more efficient ways. :)
But the experiment in negativity is certainly not over.
Debt Is An Elephant In The Room And It’s Going To Rampage
This is for my libertarian friends today: Ezekiel 16:49-50New International Version (NIV)
49 “‘Now this was the sin of your sister Sodom: She and her daughters were arrogant, overfed and unconcerned; they did not help the poor and needy. 50 They were haughty and did detestable things before me. Therefore I did away with them as you have seen.
As you can see, Peter, our nation should help the poor and needy. Whatever debt that builds up is most likely from military and financial spending that has nothing to do with the poor and needy. Something to think about. I am no fan of either political party, but those who seek to eliminate aid to the poor and elderly are seriously defective individuals.
The Fed Is Not Hiking: Risk Assets To Perform
Well thought out regarding unemployment as being off the table in Fed decisions going forward. But negative rates (like the BOJ did) don't seem to be working so far in Scandinavia. So, they may not produced the intended results going forward.
Get Smart, Millennials!
I think millennials are smart, just cautious, as the author points out.
Political Angle Driving Oil Higher
Globalist regime change of any sovereign nation's leaders is not only immoral, but it is also illegal. Regime change comes from sources like Oded Yinon, written years ago but adopted by the neocons. But now maybe it is just about the money.
Bank Of America Admits The U.S. May Already Be In A Recession
Not sure about the yield curve anymore. Artificial demand on the long bond end.
Negative Interest Rates
Nice article. Certainly interbank lending arbitrage seems to be desperation. And negative rates are not pushing inflation up so far.