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
India: The Growing Global Threat
India is starting to cooperate with the rest of Asia, something the USA refuses to do. www.talkmarkets.com/.../are-policy-refugees-jumping-the-trump-tariff-ship
GM Shares Slide As Trump Hints At Car Tariffs
Taking on the world has failure written all over it. www.talkmarkets.com/.../are-policy-refugees-jumping-the-trump-tariff-ship
Tiffany's Crashes As Growth Slows Due To Stingy Chinese Tourists
Could be because the Yuan dropped in value coupled with China's nationalism which is stronger thanks to our madman in chief. The problem is that China is a large buyer of the world's luxury goods. Trump has forced the currency down and there is fear it must go lower. While Americans spend thinking the USA is invincible, the Chinese are more aware. We have been the most arrogant nation, and the oil embargo, the dot com crash, the Great Recession, and Trump tariffs have done little to stop American arrogance. But a full fledged Second Great Depression may just do the trick!
Trump, Mnuchin Call For GM To Pay Back Federal Bailout
Trump needs to undo the steel tariffs. But he is too proud. Wall street is way too sanguine about this madman.
Trump, Mnuchin Call For GM To Pay Back Federal Bailout
GM was bailed out to make the big banks whole. The big banks then took ioer and didn't lend. Shouldn't they pay back bailouts for not lending? Since that will never happen why make GM do so?
GM And GE Were Both Victimized By The Same Ponzi Scheme, And They Are Both Telling Us The U.S. Economy Is In Huge Trouble
Now add Trump tariffs and a weak auto market could implode. Tariffs and stimulus from tax cuts are dangerous tools in the hands of people who do not recognize business cycle. Unlikely to work anyway, these tools are lethal at the end of cycles.
GM And GE Were Both Victimized By The Same Ponzi Scheme, And They Are Both Telling Us The U.S. Economy Is In Huge Trouble
It is amazing that US companies fell for Ponzi buyback schemes. They must have bought bitscam too!
GM And GE Were Both Victimized By The Same Ponzi Scheme, And They Are Both Telling Us The U.S. Economy Is In Huge Trouble
This is partly #Trump tariffs. It will get a lot worse. Trump wants to put a tariff on IPhones. He will drag what he sees as traitor companies down. He has nihilistic tendencies. He is in Lala land, a fantasy place.
Market Shrugs Off Latest US Tariff Provocation
With capacity utilization under 80, to say the US has excess capacity is a warning of deflation, Marc.
US-China Headline Confusion Sparks Overnight Market Turmoil
Or coiled downside if they do not make progress.