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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TalkMarkets Monday Chat: The Week Ahead
Just a heads jp David. There was supposed to be a pandemic in Las Vegas. Thousands of Chinese tourists visited the city in February. There should be thousands of hospital beds filling up in the city of Las Vegas residents. Happily it isn't happening.
For The First Time In Decades – Fed’s QE Jitters Investors
We should be dancing in the street that we have such a weak version of Covid-19 here. I am for some caution, but an 8 week freeze on everything proposed by the CDC will endanger families more than the virus.
Why Markets Are Still Falling Despite Fed's Action
It is amazing that people do not follow the stats of the virus in the USA. While short term caution is good, we have a mild version of the virus. The death rate in the USA is lower than the flu.
Coronavirus And The Empty Chocolate Factory
Update 3: After pondering stats and experience in Las Vegas for a week, I think the doomers are overreacting. There are few deaths in any state but Washington state. The virus is weaker than predicted here in the USA.
Trump Is Playing With Fire; Coronavirus Update
I will say that except for Seattle, the death rate is extremely low among those tested nationwide.
The Coronavirus Market Crash – Lessons Learned
The Fed is not taking down the bull. It clearly is pumping the bull. The Fed does not want the cycle to end, at least now.
Is It Priced In?
It may be too soon to bet on stocks. But I have accumulated some proof that the virus is weak. Somehow the Republicans know it is overblown.
Trump Is Playing With Fire; Coronavirus Update
If my next article comes out today all will be explained.
Trump Is Playing With Fire; Coronavirus Update
Update 9: while there are pockets of clusters, the Coronavirus is clearly weaker in the USA compared to what was seen in China. I look for a quicker recovery than the doomer scientists predict.
Now We Are Getting Serious
The great recession was kindled by a financial crisis, but as George Selgin has said the recession was due to interest on reserves which tightened the money supply.