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
less
Latest Comments
No Recession Ever Again? The Yellowstone Analogy
Well, China invests in its neighboring nations. We don't really do that. We are either too greedy or too broke. China always seems to find the money
Market Briefing For Monday, Nov. 11
Trump could compromise. But he will get little. The hardliners like Navarro and Bannon and Gaffney and Pompeo will likely feel betrayed. They all want a cold war with China, a nation that doesn't want to fight a cold war but will if necessary. The direction towards a cold war should be unsettling.
Central Banks Have Far Less Policy Room Than In The Last Downturn
They are scared to death to let this cycle die!
No Recession Ever Again? The Yellowstone Analogy
Really, look at all the crap, the malinvestment that has been done. The unicorns are an example. Self driving cars are an example. Overpromising on AI is an example. All huge wastes of money.
Skinny Deal: Whose World View Is Currently Winning?
Update 3: Navarro says no rollback of tariffs. China says no signing without the rollbacks. Trump fools Wall Street yet again?
The End Of Economic Primacy
Worth reading to the end.
Is The Run On The Dollar Due To Panic Or Greed?
So, the banks do not want negative rates. Yet Richter tells us that they want yields to contract towards zero. That seems very conflicting. Rates popped up, surprising the counterparties more than the banks it would seem. The banks were able to buy 10 years at a discount.
Why Does Australia Have Mini-Recessions?
Great article, but I think ripping the US economy apart is a deliberate Fed action. Battering wages and bubbles has been the Fed way.
Where Is That Confounded Recession?
All you really need is bad collateral to be recessionary. But this article is a good study in banks expanding the money supply. It is not strictly fiat money, since fiat money has no collateral offset. Bank money is offset by the house as collateral.
What Is Trump Up To With All This Tariff Talk
They are making concessions that won't change what they do. They will never bend to unwind state businesses. They will never stop requiring shared technology as a requirement to do biz in China, Larry. I was unable to answer you a year ago. But shared transfers are only against US law.