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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Bernanke’s Balderdash
Keynes only works when the money is applied to the people and the infrastructure.
Lashed To The Zero Bound - The Fed’s Ship Of Fools
I don't think Keynes believed in just pumping assets by Fed power. Keynes has been perverted into something else. But the article is right about weakness in lift off. They need to lift off anyway, and lift fast, and fix it later. Otherwise, it is a Fed scam to always say they want to lift off when they really won't.
Sweden Prepares For War
I wonder if our neocons are working overtime in Sweden.
The Sunny Side To A Derivatives Blow Up: Price Discovery For Metals
So, why do they have to sell into a depressed market, to keep their credit lines?
Did World War III Start On The Precise Day Of The ECM?
Yes, the US needs to pull out, Martin. Putin warned in a video today that the US armed ISIS and should stop ISIS from selling oil. But we do not do so. We are not in control of our national interest, Putin hints. We do what a little nation and big finance wants us to do. We do not do what we should do for ourselves. Now we bomb hospitals. It is a sad situation that the US has turned so strongly, with the power of Cheney, W Bush and Obama, to this dark side.
The Peak In Government? A Low In Interest Rates?
Long term paper is in massive demand. It would be great if it were in less demand and rates would go up. But they haven't in a long, long time.
"They Just Don't Want A Job" - The Fed's Grotesque "Explanation" Why 94.6 Million Are Out Of The Labor Force
The Fed is a private bank, written in stone in the Lewis VS USA lawsuit settled by the 9th district court in 1982.It owes allegiance to the banks, not to the American people. It is close to treason to write a report blaming 100 million Americans saying they don't want jobs.
Volkswagen: A Decade Of Deception - Full Chronology
Detroit is more trustworthy than Germany. Or at least that is what we know so far. Germany has disgraced itself as a nation for not stopping these carmakers.
The 80/20 Rule Is Crushing The Economy
The falling oil prices are still way above past prices, in the '90's, so oil simply hasn't fallen enough to help the bottom 80 percent.
Reflections On Ten Years: Deficits, The Financial Crisis, Textbook Economics And Data Paranoia
Menzie, you can't slap a libertarian Austrian with enough evidence to keep them from their pet theories. It is an impossible task.