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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Long Duration Yields Have Fallen Across The World…
Lots of demand for bonds as collateral for a derivatives market that will one day be so big it will require rocks as collateral.
Greek PM Tsipras Resigns, Calls Snap Elections - Aug. 21 Markets
I think you should reevaluate your support for austerity. It has proven to be a disaster.
This Is What Happens When The Fed Tries To Leave ‘QE’
So, the Chinese are inflating the US housing market and that is the only market accelerating. Something is wrong with this picture. The Chinese are bailing out, the millennials are frugal, and perhaps there is a change in the wind.
The Big List Of 33 Things That Are Going To Happen In September 2015
Wow, those Texans can be relieved, since Texas won't be taken over. But if oil goes to 10 bucks a barrel, Texas will have something real to worry about.
With A Grexit, A Lot Of Politicians And Bankers Would Lose Their Job... So This Must Be Avoided By All Means
I am not convinced of the arguments of the libertarians. Gold is a commodity like all the others and gold coins trade as commodities. Commodities are crashing.
Forecast 2015 — Life In The Breakdown Lane
Wrong about Las Vegas. Lake Mead gets its water primarily from Lake Powell, which is not a desert lake at all, sourcing water from the Rocky Mountains. If the Rocky Mountains have a massive drought, it could affect much more than just Las Vegas. And that has happened. But recently, Lake Powell had spring and summer storms that raised its levels, and that will help Lake Mead and Las Vegas.
Goldman, JPM, RBS, Barclays And HSBC Are Sorry They Took Your Money
If the banks have bet on low interest rates, the Fed will either protect them or raise rates for a short time, which could mess with the financial system. That didn't last before so it most likely won't last again.
Goldman, JPM, RBS, Barclays And HSBC Are Sorry They Took Your Money
Hand me down luxury cars are becoming the rage, so maybe they should just make a lot of stuff for the very wealthy. If they stop buying cars, that could be a problem for the rest of us!
Don't Look Now, But The Subprime Auto Bubble May Be Bursting
Until wages increase, drivers have little choice. They will buy the car. It is not as harmful as toxic home mortgages because of the duration and because if people don't get the loans they don't get to work.
An Empire Strikes Back: Germany And The Greek Crisis
So, one would think Germany would throw Greece a bone, because Germany is taking advantage of the shared currency, yet wants massive austerity when it gains the upper hand. It is called Greed.