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 Wolf, Not Dragon
This decline in China is not a victory for the West. It is a defeat for world growth.
JPMorgan: "Significant Risk" Is Coming Next Week... And Nobody Is Prepared
The Fed likely won't lower rates, but maybe later in the year.
For Those Who Don’t Understand Inflation
Or maybe there are more deflationary pressures than the author contemplates?
Forget Velocity Of Money Circulation
Interesting. But, why is it the velocity of money slowed with the increase in the financialization of our economy? Surely slowing of velocity is connected to accumulation of wealth at the top as well as with the financial weakness of the real economy.
Traders Buy Stocks, Bonds, Bitcoin, Bullion, And Black Gold After Tanker Attacks
When Romney was running for president and deemed likely to win, Patrick Clawson called for a false flag on Iran. Those events are hard to prove. Hopefully the attacks were isolated incidences, and most hopefully not engineered by the US government.
Seven Reasons Why We Should Not Depend On Imported Goods From China
I have questions about this article. An amazing amount of production is concentrated in China because China has 1.4 billion people. So poin 1 really is hard to understand. Point 2 really has more to do with China's internal policy than reasons why we should not import from them. As the author states, the world depends on China's energy fulfillment, because the world depends on China! But saying that means we can buy from elsewhere seems like wishful thinking. JMO.
Can Trump Manage The Economic Cycle?
Trump will have to give in and the Fed will have to admit they were wrong for the author's scenario to play out. Neither seem like done deals to me.
Great Graphic: Euro's (OECD) PPP
But the ant has the strength it needs while humans don't always have the strength they need. China has the strength it needs. If Trump crosses that PPP he does so at his peril.
Tariff Man Trump Fooled Wall Street From The Start
Update 5: Wilbur Ross said a deal will be made but then comments that all US demands will have to be met. The man is a delusional market manipulator.
Ray Dalio Is Kinda, Sorta, Really Wrong
I think productivity is too weak for trickle down to work in this environment. It usually simply doesn't work. But Mr Mauldin, I believe Dalio would rather see helicopter money than MMT. I don't know that he has endorsed #MMT except for the fact that it is what is catching on and austerity is not working. Capitalism has become too austere for the masses while the wealthiest play like never before. Helicopter money is much safer, and would work if properly dispensed. It is a monetary issue according the Friedman and the monetarists at the Fed can execute it without the fiscal budget exploding.