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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Latest Comments
Japan Has Dropped Back Into Deflation
Japan and Volkswagen are scary. It is almost the season.
Goodbye $100 Bill? Ex-Central Banker Demands All High-Denomination Banknotes Should Be Abolished
It is unfortunate that the powers that be have not thought this through. People will suffer, even people with money, under the right circumstances, if cash is abolished. It is a wicked world and people will live differently and it will hurt the economy in the long run, IMO: www.talkmarkets.com/.../fed-weakness-future-insatiable-bond-demand-with-short-supply
Fed Weakness, Future Insatiable Bond Demand With Short Supply
I certainly hope it does not go that far, but they appear serious with the endless articles pumping the cashless society. No man can count the articles that have been written touting it! It is troubling to contemplate.
Did Gold Survive The Depression?
Gold is a commodity for sure. My question would be how much gold's new use as collateral for derivatives markets would impact the price. Gold is used for a lot of other things. But derivatives use could be growing and it could affect the price. Anyone have a guess?
Negative Interest Rates Next Up - Will Pump Markets But Eventually Destroy The Global Financial System
Lol, thanks.
Negative Interest Rates Next Up - Will Pump Markets But Eventually Destroy The Global Financial System
Hi Scott, I don't see long bonds ever going up in yield that much and that won't give banks motive to lend unless they just throw that benchmark away. There is insatiable demand for the long bond. My article today explores that. I wish you would look at it.
Negative Interest Rates Next Up - Will Pump Markets But Eventually Destroy The Global Financial System
Your two points for helping the economy, cut interest on excess reserves, and raise the funds rate to 2 percent are good, but I think you have to take long treasury bonds out of usage as collateral. Otherwise the long end will stay low yield, high priced.
Negative Interest Rates Next Up - Will Pump Markets But Eventually Destroy The Global Financial System
Great article, except that supply side is hardly Keynesian. Supply side is tax cuts and private hot money. Keynes would say fix the roads, fix the real economy. And we aren't doing it!
Thursday Failure – Indexes Test Some Critical Levels Pre-Yellen
There is a bit of arrogance in Germany, isn't there! How could they be so brash?
Bill Gross' Latest: "Mainstream America Is Being Slowly Cooked Alive"
My fear is they cannot get far enough off of zero to ultimately stop from crashing through the zero bound in the next downturn.