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
less
Latest Comments
Dollar Bubble Set To Burst As China Devalues Yuan
The dollar is looking pretty strong right now when compared to the other big currencies. I would imagine being in that trade would be some volatility. As another article is titled today around business circles, gold looks weak.
Alphabet: What Investors Are Saying About Google's Restructuring
These are probably reasons Google should own Twitter, unless one thinks that real time ranking will one day go away. searchengineland.com/signals-twitter-google-care-219202
More Discussion About Demand Shock And How Helping Labor Will Help Capital
Thanks Patrick. The banks and businesses stand around waiting for the millennials to save them. It is really pathetic.
Chinese Yuan Devaluation Is Minor; US Dollar Bubble Is Growing
It is a quarter of a point, Peter. If that throws the US into recession we were already close anyway. Like you say, the devaluation of the Yuan was small, so the interest rate rise is small too. It is all small. But what if China gets desperate because we don't buy its dog food anymore because we would pay a little more to have our pets live? What then, Peter?
Is The Heavy Selling Of Media Stocks Warranted?
Yes, in the Great Recession, advertising revenue dried up. People are starting to think that could happen again, or even worse as China is in trouble and Europe is a mess.
Conspiracy! Self Driving Cars And Culling The Human Population
Hi Dick, I did not develop that thought. I only took the assumption from two points. First, oil producing nations would no longer produce oil. Those people would become unneeded. Then also, people point to the expense of owning a vehicle. Self driving vehicles would, I assume, be much more expensive than regular vehicles, hence the ride sharing would make less vehicles needed. There are other issues there, so I will look into it more. I hope others do as well.
Conspiracy! Self Driving Cars And Culling The Human Population
We only see glimpses, Alexis. We can only form circumstantial evidence based on bits and pieces. You could be right, but when Musk says it will be illegal to drive your own car and the Google self driving fellow indicates interest in a conference cosponsored by the Club of Rome, you just have to wonder.
Desperate Banker Attacks On Millennials Via Media Are Ramping Up
True that. But who knows who is behind the need to skim so much from the middle class and future implications of that fraud. Is it done just for greed and the banks and their handlers thinking the middle class will bounce back, or was it because our middle class is in permanent decline and someone wants the USA weakened? That is the issue I think.
Nevada Supreme Court Forces US Bank CEO To Bend Over And Take It In The Shorts
Lol, the court decision is true. The quote by the CEO was made up. :)
5 Cutting Edge Tech Companies You Need To Know
These are interesting companies, especially the coffee one and the poker stake.