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
The True State Of The US Consumer: All Six Retail Companies Reporting April Comp Sales Missed
Just another reason to do real helicopter money, without any treasury bonds being involved at all. Just a straight issuance of base money from the Fed to the people.
Twisted Sister
I like Eric Lonergan's views of helicopter money. It does have a fiscal benefit but it is not fiscal in origin. It does not increase debt, require tax cuts or slow government spending. It is independent of all that, Tom: www.talkmarkets.com/.../eric-lonergan-precisely-defines-helicopter-money I hope you check out my article about it.
The War On Paper Currency Officially Begins: ECB Ends Production Of €500 Bill
The Eurozone can and should do better. 30 percent decline in total currency is massive.
Twisted Sister
Well, if it is not done as QE, it is worth a try to stop bond yields from crashing through zero lower bound.
Twisted Sister
And yet, there is resistance, still, to helicopter money and arguments by Z H and others against a form of helicopter money that is not the real thing. www.talkmarkets.com/.../eric-lonergan-precisely-defines-helicopter-money
Millennials And Money: My Interview With Rachel Fox
Helpful advice for everyone.
Buffett Versus Icahn: "Wall Street Rules" In Action
Vinny, what if low and negative rates are a function of demand for bonds rather than a slowing economy? I think that is at least partly true, now that the clearinghouses require so many treasury long bonds as collateral. If that is the case, Buffett could be right.
Debt: The Key Factor Connecting Energy And The Economy
Interesting article, to say the least. So, debt has positives, raising GDP, and negatives, gap between rich and poor increases. That is why, for main street, there is a debt free solution that would mitigate this gap, Gail. Too bad so many people don't understand it: www.talkmarkets.com/.../responsibly-expand-the-monetary-base-before-it-is-too-late
Reprint Of Helicopter Money
YW Charles. Even some central bankers act like they don't understand the real helicopter money concept.
Reprint Of Helicopter Money
Hi Vivian, yes, helicopter money could do a lot, even for infrastructure. But so many people misunderstand it. Here is a clear understanding of what fiscally responsible helicopter money should be. It is purely monetary, with a fiscal benefit, but without raising taxes, or cutting government spending. It should appeal to conservatives and liberals alike: www.talkmarkets.com/.../responsibly-expand-the-monetary-base-before-it-is-too-late