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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Why Iranians Are Avoiding Bitcoin, While Venezuelans Embrace It
Very interesting article.
How Banks Create Money And Why Governments Should Too: Part 5
One would think banks would want the Fed to issue helicopter money so people can pay down debt. But banks would rather be bailed out by government AND get the properties back. Eventually that weakens or destroys the middle class.
The Natural Rate Of Interest Is An Esoteric Concept That The Fed Pays Attention To
Nice rstar charts prof. ECB is a total failure.
I Never Said The Fed Wasn’t Good
Energy seems to be a big issue. Lack of demand.
Debt Jubilee Would Set Us Back To Sumer
Well, that makes you consistent. Unfortunately, the Great Recession would have become the Greatest Depression without the bailouts. Look what happened to the economy just with Lehman! So there may be a credit crunch that would necessitate bailing out the masses. We aren't there yet but we could be getting closer.
Debt Jubilee Would Set Us Back To Sumer
But you were ok with bailing out the banks to save the economy. Same moral hazard.
Debt Jubilee Would Set Us Back To Sumer
Not doing jubilee must be offset by helicopter money. It would be less complicated and doable, from Fed Money.
Serious Problems For Germany’s Manufacturing Sector, Auto Production Restructures In The Direction Of Electric Cars
Trump could crush Germany prof, unless Germany moves to embrace China instead of playing the Trump game. Germany could play the Trump game and he could still crush them if reelected. Europe must view the USA as an adversary.
One Big Reason Traders May Still Be Underestimating Coronavirus Risks
Sobering assessment. We hope that this is not the outcome of the virus. Thousands will die, and keeping it within certain borders may be impossible.
The Impulses Of Lunar Fed Policy Under Repo Madness
And all the while interest rates head toward negative, even though nobody wants the glut of bonds, especially JP Morgan and the hedge funds.