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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The Road To A Post-Corona Boom (Foreign Policy) - Part 3
I did not make a foolish comment and you certainly just attacked me and not the comments. The Trump cult draws people into its web. You appear to be a victim, DRM.
When Will We Be Freed From Covid-19 Lockdown?
Update 8: There is a lack of safety measures at many Las Vegas casinos just opening. There are tourists walking the streets in small numbers along with more cars on the strip. Be cautious, wear a mask!
The Fed Cannot Allow Another Lost Decade
It is mostly about protecting the collateral.
The Fed Cannot Allow Another Lost Decade
If the financial economy had strength, we could tolerate rising interest rates. But the Fed is happy with the new normal. As long as deflation doesn't take over they are happy with slow growth and little economic opportunity down on mainstreet.
From QE To Eternity: The Backdoor Yield Caps
Low rates and the inability to raise rates are proof the financial system is weak.
The Road To A Post-Corona Boom (Foreign Policy) - Part 3
Trump is gearing up to destroy our relationship with Europe. Europe's argument is that Google and Facebook glean valuable customer information without paying for it. So Europe wants to tax them. Seems reasonable. But Trump can't see much that is reasonable.
The Road To A Post-Corona Boom (Foreign Policy) - Part 3
I am not pro China. I am pro America. But America cannot prosper without China. Because China will forge worldwide relationships while we want to do a trade war with Europe as well. The United Statds is undermining future prosperity and Trump has fooled most Americans. He is a destructive force.
The Road To A Post-Corona Boom - Part 1
Actually, the economic miracle of China is based upon free trade and low tariffs. When the USA was young like China, our tariffs were far higher than China's are.
The Road To A Post-Corona Boom - Part 1
Japan's economic boom came years after Pearl Harbor and is the reason why your car doesn't fall apart every few years.
The Road To A Post-Corona Boom (Foreign Policy) - Part 3
I am certain China will leave us behind if we divorce China. It will take them a little longer but our companies are begging to stay engaged with China. There consumer spending is 40 percent of GDP, very balanced. If our consumers are hit, GDP drops like a rock. They have room to grow in that area, which would be good for US companies. We are maxed out at 70 % of GDP.