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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Sources Of Imbalance And The Pushback Against New Divergence
Trump has panicked in the face of the Coronavirus by pleading with the world that we are open for business. His trade wars coupled with the pandemic possibly coming to America could devastate debt fueled America.
The Year The Bond Market And The Bank Of Canada Parted Ways
So are yields declining due to flight to safety or because a Canadian recession is built in? Kudlow was out saying the US economy is strong and that declining bond yields are simply a flight to safety.
China Will Struggle To Honor Trade Commitments
China will buy some stuff. But Trump helped slow the Chinese economy, and yet before the trade war China's purchases of US goods were increasing.
Is Steve Bannon Doing China A Big Favor?
Update 10: Trump declares the US open for business as other government leaders seek to clamp down harder on China. POTUS has opened a Pandora's Box with his trade war and the rest of government believes we can divorce China. Maybe Trump is a little smarter than they are. But tariffs were just good politics for Trump, and now the world may pay a heavy prices as China growth weakens.
China’s Debts Are Coming Due At The Worst Possible Time
The Chinese got smart. No more empty cities. The cement turned to BeltandRoad to the flight of many Chinese neighbors and Africa. In the mean time we just arm the world instead? Who are the real blockheads?
Oil Touches $60/bbl
Stocks are waking up while oil goes back to sleep. Interesting.
Treasury Yields Plunge To Record Lows As US PMI Collapses Into Contraction
Good work. The mainstream news was off the rails with this ine.
Earnings, Margin Debt And Moral Hazard
The Fed was slow to react to the housing crash in 2008. That made the Great Recession far worse. How will it react this time?
US Government Escalates Trade Hostility
In this case, yes. Show proof. Our government has had plenty of time. Read my article on Meng and the rule of law.
Easily Overlooked Issues Regarding COVID-19
Long supply chains could have been a good idea. China must do what it says, limit the consumption of commercially processed wild animals.