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
China's Exports And Imports Weaken
China doesn't need imports much because China makes pretty much everything. Exports are going well outside the USA and really, that is all that matters. We will be the ones paying more. They, because of PPP, will pay less!
China’s Xi Free To Continue The Downward Course
While this is an astute observation, it appears that China's policy is almost certain to crush the US stock market. The weakness will be in the US as a means of convincing Europe and all of Asia to throw in with China. Once the world sees the USA is bankrupt, that should become an easy process.
The Canadian Stock Market Takes Leave Of The Economy
The stock market becomes the economy. That can't end well.
Agreement Between The US And China Is Open To Question Again
It doesn't look like a trade deal is that big of a deal for the Chinese.
Capitalism: Problem, Solution, Or Both
I don't think she will win the nomination. But she has brought forth an interesting discussion. I am disappointed in most billionaires who now do not want to even entertain a compromise with her. A good trade would be disposing the wealth tax for higher income taxes on billionaires. Many of them would go for this.
Capitalism: Problem, Solution, Or Both
Update 3: Elizabeth Warren is gaining traction. Billionaires who I speak about in this article really need to compromise instead of just rejecting her. Government agencies are being starved for money and the debt is exploding. People have had it with a system that could one day put our way of life in danger due to the wealth divide.
Skinny Deal: Whose World View Is Currently Winning?
Update 4: If Trump waits to sign phase one at the end of impeachment proceedings, Xi will have massive leverage over POTUS45. He will likely want tariffs rolled back or no deal.
Alibaba Breaks 'Singles Day' Sales Record With $31 Billion Haul
So much for China being weak and an easy enemy to defeat in a trade war. We knew Trump was ignorant as hell.
For Millions Of Americans In The Middle Of The Country, It Feels Like An Economic Depression Right Now
Suicides among farmers has always been a present danger. I can't imagine sacrificing them to Trump's tariff war helps. The farmers never should have supported Trump. The trade war is not only unnecessary, it is harmful to US prosperity and will hurt all of mainstreet.
Bullish Day Two
Good grief. Only NY would charge interest on zero dollars, lol. And then a penalty for paying the interest on zero balance late! There is aggravation for you but also it is absurdly funny.