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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Resolved For 2020: Come Together
Well, Reagan was lucky that consumers had money to spend. Otherwise supply side never would have worked back then. It didn't work for Hoover, or W Bush, or even Trump. It is generally a horrible idea. Also, inflation was horrible in the 70's. Prices changed multiple times per week for everything.
Expect Low Oil Prices In 2020; Tendency Toward Recession
If the predictions here come true the world will be in crisis.
Stocks: Bull Or Bubble?
Old folks will get greedy and stay in stocks if they know it is a bubble? Hope not. But good trade war and PE insights by Kevin and Tracey.
Are Policy 'Refugees' Jumping The Trump Tariff Ship?
Exactly. That is why his turnaround is so puzzling. It is almost like he put Trump up to it and then didn't want to have any part of it. Articles are everywhere about this, BB.
We Want A Systematic Cancellation Of All Debts. Not Student Debt Alone
It would be nice. But a simpler alternative would be random, infrequent Helicopter Money.
Are Policy 'Refugees' Jumping The Trump Tariff Ship?
Update 1: It appears that Netanyahu has distanced himself from Trump's Iran military action. I am surprised, but did Bibi's tough talk on Iran emboldened Trump? It may prove out that Donald Trump was snookered into action that could endanger him personally, all to please Israel. Only time may show if this brief analysis is correct.
What Trump Needs To Do Next To Earn An ‘A’ In Economics
Wow, it took over half the article to get to the meat of challenges the regular people are facing. Still, Peter is for free trade and economic growth. Not sure if Trump cares more about that growth than does the far left!
Shocks And Market Impact
Interesting chart!
Hacking The Economy: Is It Happening?
Maybe so, but the author's assertion that the Fed does not bring down the economy was disproved twice, in the Great Depression and Great Recession. The Fed took down markets both times.
Trickle Down Didn't Work For Trump, Bush And Hoover. Here's Why
Update 2: Lots of talk lately about the failure of neoliberalism. An essential part of neoliberalism, which is not liberal, is the failure of supply side economics.