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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Las Vegas Pandemic Disappeared. Trump Knew
Update 3: For the sake of families struggling to make ends meet this lockdown needs to stop at two weeks. After that only lockdown cluster areas.
Lyft, Uber Suspend Shared Rides To Limit Spread Of Coronavirus
At least they are still in business.
There's Never Been A Worse Time For Fiscal Stimulus
One more point. If helicopter money is welfare so is any other expansion of the Fed balance sheet.
There's Never Been A Worse Time For Fiscal Stimulus
Helicopter money is not welfare, it is monetary policy if the Fed does it. 1000 is not enough but disposable income is now being used to squirrel away necesslties.
Powell Was Warned Last Year: Money Soon…Or Else
We have too many bonds at near zero. The banks would rather have cash than a glut of bonds. Will they lend? Will others want to borrow? Maybe distressed companies.
Unprecedented In China, Yes, But Then What?
Helicopter money as a one off would be appropriate. 5 grand to every adult in America. Unsterilized but one off. Then the other programs would make more sense.
Coronavirus Simulating A Full Blown Trump Trade War
It is almost like the virus is act 2 of the trade war. I certainly would never claim that dreadful thought without more proof. If there is a rest of the story we may be told it someday.
Las Vegas Pandemic Disappeared. Trump Knew
Update 2: Current numbers from CNBC are 3800 cases in the USA and 69 deaths. Thankfully, that is a low death rate, flu like in numbers. The virus is definitely behaving less aggressively in the United States.
Las Vegas Pandemic Disappeared. Trump Knew
Update 1: Anthony Fauci says the worst is yet to come regarding the virus. But that makes no sense of groups have been locked down. Maybe we can track things from here going forward to see if Fauci's predictions come true.
Trump Is Playing With Fire; Coronavirus Update
This article shows how I have moved from total doom and gloom about the pandemic to some hope that it won't devastate the United States. I think the CDC is wrong, and wronheaded to lockdown 8 weeks unless young families are cared for: talkmarkets.com/.../las-vegas-pandemic-disappeared-trump-knew