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
Stocks & Bond Yields Surge On "Resumption Of Trade-Talks", Silver Slammed
Crazy manipulated market in spite of little chance for success in trade talks.
China Or US?
I believe China is stronger. Trump will either give in or do serious damage to American business. Great article!
The Best Of Times, The Worst Of Times - The Global Economy Is At A Perilous Cross Road
This is a must read.
Car Manufacturers Caught In Crossfire Of Trump's Trade War
No, of course not. Just for tariffs and racism. I support #Trump's effort to keep us out of war with Iran!
What Is Bill Dudley Thinking?
Trump campaigned on r5 percent t tariffs. Of course he will escalate
Are Central Bankers Taking Sides In The 2020 Election?
Wow. Not one mention of the danger of sliding toward negative rates. The trade war cannot be won by a country of 300 million people against a pro capitalist, protrade nation like China! When will Americans come to their senses about this?
Car Manufacturers Caught In Crossfire Of Trump's Trade War
Alabama and South Carolina deserve it if Mercedes and BMW are forced to shut down because their favorite president destroys the export business to China. That is a harsh assessment but the governors of those two states should start lobbying for a permanent cease fire to these tariffs.
US Trade: A Win For The President?
Trump won't have much of a case as US exports continue to dry up. Being tough in negotiations when tariff wars do not work is like saying negotiating with Kim when he continues to develop nukes and missiles is progress. Trump is losing the trade war and you give Trump way too much credit, James.
The ISM Conundrum
Not so sure about this. I would say there is a worldwide boycott of Trump and all things American that is not trade war related. It is just disgust with all Donald Trump is and stands for that makes many hesitant to buy American. Shortage of dollars means the Fed is too tight. Before Trump does too much damage in a possible second term, the Fed should remain firm and try to get rid of the dummy.
Is Steve Bannon Doing China A Big Favor?
Update 7: Trade war is deepening. China is increasing its service sector, which is growing by leaps and bounds. China is big, with superior PPP while we are relatively small. Trump has a tiger by the tail and it doesn't look good for him.