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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The Bear Market Everyone Saw Coming
Borrowing to buy back stock is like homeowners mortgaging their houses to buy stocks int he dot com bubble. Scary stuff.
QE Never Stopped; Only The Players Changed
This is a brilliant article and certainly, at some point, fear will overtake this fraud of corporate QE.
QE Never Stopped; Only The Players Changed
Lol, the companies buy back shares like the Fed buys bonds and unload the burden of having to pay dividends.
Gold Is Money, Not A Commodity; If You Want Money, Have Some Gold
Clarification, dollars can be leveraged in ETF's, but what I mean is that dollars are not used as collateral because if you have cash you don't need a loan! Gold, on the other hand, can be used as collateral and can be rehypothecated.
Gold Is Money, Not A Commodity; If You Want Money, Have Some Gold
If dollars can be levered up I would believe Schiff. Gold certainly can be. Gold is more like bonds and good debt, or copper.
Is This Where The US Recession Is Hiding?
Manufacturing in Las Vegas, especially regarding slot machines, is in terrible shape.
The Case For Outlawing Cash
Bill, I wrote about it here.It is a chilling thought that if push comes to shove, you won't be able to hide money in the vents. Roubini said don't worry though, you will at least be protected from rodents if you are forced to swallow negative rates! www.talkmarkets.com/.../summers-and-roubini-talk-negative-interest-rates-sound-logic-but-unncharted-waters
The Best Argument For The Minimum Wage Is Not Good Enough
Not sure. In&Out pays pretty good wages. I don't think there is a problem. Business Insider did a study on real high wages at McD's and 15 dollars per hour raised a big mac by a dollar. So, there is room between what we have now and 15 dollars.
The Best Argument For The Minimum Wage Is Not Good Enough
Yes that is more what I thought back in the day regarding Adam Smith. I am older now and forgetful. Thanks for clarifying your position.
Gold Will Take Off As Fed Loses Credibility
If the Fed loses credibility because deflation is at the door, then why would gold go up?