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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Fed's Real Mandate: Ever Expanding Asset Bubbles
Helicopter money, but not UBI because that would be continual and inflationary!
"There Is No Liquidity" - Market Paralyzed As FRA/OIS Explodes
"Putting leveraged borrowers in jeopardy." Sounds like the guys who jumped from tall buildings with a deadly bounce in the Great Depression.
Coronavirus And The Empty Chocolate Factory
We all hope the #Coronavirus would fade away. But policy can't assume that will happen. #Trump being surrounded by the virus could ultimately be helpful. Of course, he is likely worried about himself and not his rally followers.
Coronavirus And The Empty Chocolate Factory
Update 1: Tim Seymour on CNBC Fastmoney slipped up and said that there were large cap companies with bond troubles. But then he said that he couldn't mention the companies. It is my opinion that CNBC is not your friend, working to restore confidence when people need the whole story. While I doubt that each trader on the show is the voice of CNBC, that company should address this situation and tell us which companies are drowning in debt. CNBC needs to give investors all the info it has. This is my personal opinion.
Weighing The Week Ahead: Why It Is Crucial To Use The Right Time Frame
So, unfortunately, the oil wars broke out and people are trying to sell futures and fear margin calls in oil. I think it could get ugly. No one is coming to Las Vegas by air. Usually you see a line of flights in the sky ready to land. You now see about 2 to 3.
Chinese Coronavirus Changeup
Correction, the Shanghei experience was from Simon Hunt's friend, not Mr Mauldin.
Chinese Coronavirus Changeup
This letter by Mr Mauldin is a must read. Clearly, even with a lighter impact on the USA so far, the Coronavirus is pitching us change ups, and our nation could strike out. Mr Mauldin's personal experience in Shanghai is amazing.
Trump Is Playing With Fire; Coronavirus Update
Update 8: Pence and AIPAC members may have been exposed to the virus by two NYC attendees. You have to wonder why there is no concern that Pence and AIPAC members self quarantine!
5 Ways Investors Can Stay Calm As Coronavirus Fears Worry Markets
Of course the market needs to have people buying so those margined can get out safely while creating less damage and fear.
Will This Coronavirus Outbreak Cause A New Financial Crisis And A Horrifying Economic Collapse?
We pray it goes away. Citizens are policing themselves since the government of the United States is ill prepared.