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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About 38% Of All The Comex Gold In Hong Kong Left The Warehouses On Thursday
Here we go again, investors trusting banks. Lol. And what about gold paper being used as collateral? How will that end?
The Bubble Finance Cycle: What Our Keynesian School Marm Doesn’t Get, Part 2
How can there be a free market of interest rates when long bonds are being snapped up as collateral, David? Bonds are gold to these folks in the derivatives markets. That pushes yields down, down, down.
Who Owns The Fed?
Well, this is likely true, but who owns those big NY banks? I am sure they are widely diversified, but certainly some shares are owned by big financiers who exert great influence. And we can see that the NY Fed is the most powerful Fed of the 12, since it has the most powerful banks.
The Bitter, Crushing Poverty Of Appalachia Is A Preview Of What Is Coming To The Rest Of The Country
I don't buy the Wall Street mantra that low oil prices are bad for America. I want to understand if low oil prices are a result of poverty in American and I think they are. Demand in America is slowing for gasoline. So, low oil prices are a reflection of bad things happening to America, not the cause.
The Bitter, Crushing Poverty Of Appalachia Is A Preview Of What Is Coming To The Rest Of The Country
I am sorry for these people, but coal just doesn't have much of a place in America with the advent of cleaner technology like nat gas, and the Chinese have hoarded enough coal. Coal mining is very dangerous as well.
As far as house squatting is concerned, investors are hoarding houses like DeBeers diamonds hoarded diamonds in the old days. It really is disgusting.
Why I Am Never Going To Own A Home Again
I have mixed feelings about this article. My mother bought her house in a small town, new in 1942 for about $4000 and sold it in 2003 for about $85,000. However, that is likely never to be duplicated again. Zillow estimate is now $111,000. So, wage inflation has not kept pace with house inflation. It cannot continue to be this way without some serious housing market panics along the way.
If the same house was in Los Angeles, it would be double the price, and with the big lot size of almost 10,000 square feet, some investor would come along, tear it down and build a new house and charge 4 times the value. So, in certain markets, it seems almost that they cannot seriously go down, even with a credit crisis.
But have we seen THE credit crisis yet or is the can still kicked down the road. There is always massive risk when houses become investment commodities.
This Is How Fossil Fuels Die
From the conspiracy viewpoint, which I take unless proven otherwise, this globalist engineering of non oil and gas products is first and foremost economic warfare against Russia and against the Middle East.
The Stench Of Freddie Mac Is Back - $18 Billion In Crony Capitalist Thievery
If Wall Street can make the GSE's ugly enough, people will clamor for JPM and the rest of the bankers to take over that business. And it will be worse than it is now!
Political Climate Shifting Against The Oil And Gas Industry
Saving the planet is the reasoning behind Gorbachev and others calling for culling 90 percent of the population. No, saving the planet has people willing to use any means to the end, and that is unacceptable.
Political Climate Shifting Against The Oil And Gas Industry
I used to be environment first, until I realized that the globalist, futurist, eugenicists are using climate change and the environment to trap us in self driving cars. That is bad news for freedom and democracy. It is as bad as the cashless society.