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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Holiday Shopping Off To Weak Start
Time for helicopter money.
Good News: It Looks Like A Big Win For China
Trump can't beat China despite all the Cramer hype. He should be ashamed of himself.
Recession Ahead: An Overview Of Our Predicament
People are staying home more. They may not be using as much heat. The idea that producers cannot afford to produce because prices are too low is a problem of wages. Yes, this could be a serious problem. Unnerving article as usual from Gail.
Deregulation Of Dodd-Frank Is Causing Mortgage Credit Expansion
Interesting. It seems like building is increasing, but that may or may not affect equities if holiday sales are weak.
Why Did The Fed Turn Dovish? Not Just Trump
Update 2: As Fed funding in repo continues, it appears that speculators and counterparties are hoarding bonds while the big banks don't want them and are hoarding cash. The Fed is attempting to make a market through liquidity injections.
Dimon’s View Of Economic Reality Is Still Delusional
China is more free trade capitalistic than is the USA. Too much speculation in real estate has distorted the connection between work and expenses.
Skinny Deal: Whose World View Is Currently Winning?
Update 6: Wall Street was greeted by Trump saying he wants to wait until after the election for a trade deal. He is tariff man. Wall Street never did grasp this truth about Trump.
Stocks Get Slammed On ISM Data, May Have Further To Fall
1.5 GDP considering the tax cuts is horrendous. Other than the rosey GDP assessment, good article.
China Braces For December D-Day: The "Unprecedented" Default Of A Massive State-Owned Enterprise
So, in a pinch, the Chinese government may assist the regular people while letting reckless commerce default. Cool.
Ex-BOJ Chief Regrets Not Hiking, Hated QE, Says Sub-1% Interest Rates Don't Work
If Japan wants more fiscal debt, the government is insane. Now with recession coming the BOJ must issue helicopter money. This is the perfect time and perfect nation to issue HM to the people directly because that will stop fiscal spending increases.