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
Hacking The Economy: Is It Happening?
Interesting article. It would seem that the banks have too many bonds, and they do not want negative rates. Trump wants negative rates even though the idea failed in Europe. Of course Trump needs to go, but will the Democrats go for free trade, for positive rates? Trump wants to destroy the holders of our treasuries, especially Russia and China. He doesn't think that would hurt the USA. It is, for him a better way than just defaulting because he has been told that default is bad. If the Democrats are that stupid as well, we are cooked.
U.S. Retail Sales Soar In Holiday Season: 5 Top Picks
Giving merchandise away is hardly successful.
Healthcare And "Market Failure"
I can't believe it. Mises is calling for a far larger bureaucracy to run health care. Amazing!
The Future Of Trade Deals
So, Dean, China had begun picking up purchases of US exports just before the trade war. When the capitalists win it can cause a nation like China to prosper and buy stuff. But Trump's tariffs put an end to that. Trump is just trying to get the farmers off his back. And you are sort of fossilized in your thinking. China is winning, ultimately. And that will continue after we are 6 feet under. Why not play their game and compete and send them stuff? China used to love America. Til Trump, that is.
Amazon Reports 'Record-Breaking' Holiday Season With 'Billions Of Items' Ordered
Things not dollars? Interesting.
Capital Flight: Money Leaving China At Record Rate
But the Chinese save lots. Americans don't by comparison. That is China's advantage if the US continues the trade war, which it may do after the election.
The New Spending Bill Is A Disaster
Costs for health care, forced purchasing of health care, as businesses opted out, were excessive for both rich and poor. Democrats never figured this out. Trump, unfortunately did. He retains voters who otherwise would not vote for the disgusting fellow.
Pipeline Bond Investors Are More Bullish Than Equity Buyers
If speculators leave this bond market there could be trouble. Fear of recession vs. Fear speculators will leave. Tough time to be in bonds but still safer than a stock crash.
Post-Brexit Planning
The EU is a no growth mess. Good to see the UK will seek free trade. Trump may interfere with that if he wins again. The problem with the Conservatives has to do with rights and lack of committment to health care. After BREXIT they could end up vulnerable as their usefulness will have played out.
Good News Bad News Day
Yes, Impeachment good news for sure. Sweden's termination of the negative rates may bring bad economic news short term, but negative rates were supposed to stimulate though the result was a slowing economy. Surely negative rates have taken a toll on the Swedish financial system.