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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Is Steve Bannon Doing China A Big Favor?
Update 2: Donald Trump has, at the G20, thumbed his nose at Bannon by choosing to allow Huawei to buy American components. Trump, at least for now, has blinked, and that is a good thing for world prosperity.
Could A Cryptocurrency Become A Global Reserve Currency?
Yes, as long as the corporation guarding it is secure. Not sure if Facebook could be that secure based on its record. That is for experts in the field.
Could A Cryptocurrency Become A Global Reserve Currency?
Government currency appears far more stable than Bitcoin, doesn't it? The dollar is hardly prone to hyperinflation. Bitcoin's worth is massively volatile.
Libra: Facebook’s Audacious Bid For Global Monetary Control
But how would it be a threat to the Fed?
Libra: Facebook’s Audacious Bid For Global Monetary Control
I doubt if mass amounts of people will pile into a zero interest vehicle. And many don't trust Facebook. And banks are insured. And didn't Second Life have a virtual currency? So I don't get the crisis.
Are You Prepped For Better News In H2 2019?
That South China article is already old news. The trade war is on, and Trump will crash the stock market most likely and the world economy. He would have to stop being a bully for China to tolerate dealing with him. As purchasing power parity goes, China is a much larger economy than the USA. Wake up people!
To Make A Deal Or Not Make A Deal, That Is The $25 Trillion Question
Unfortunately for bully Trump, and ultimately for the US economy and stock market, Xi requires preconditions that Trump will likely not meet. Trump will level massive tariffs on China and unless Trump admits defeat, our stock market is toast.
Federal Funds Is Not Falling With The Rest Of Them
Chilling. If repo goes..
Household Debt Service Levels Are At Historically Low Levels
Here you go: fredblog.stlouisfed.org/.../the-climbing-cost-of-renting/
Household Debt Service Levels Are At Historically Low Levels
Just go to FRED and it is a recent blog post, I believe. There is a chart accompanying it.