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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Could Drone Strikes In Saudi Arabia Send Oil To $100?
Interesting. Refineries are like sitting ducks.
More On Trump And Trade
Trump is interested, but then again a temp deal is off the table. So he must give in. If he does not there will be no deal. China is in the driver's seat.
Drone Strikes Shut Down Half Of Saudi Arabia Oil Production
The US meddles. Unfortunately Mish, that is the truth.
Tariff Man Trump Fooled Wall Street From The Start
Update 11: It appears that a temporary solution to the tariff war is now off the table. Hope for a deal is decreasing daily.
Trade Concessions, Central Banks & Retail Sales Ahead
Not sure Cramer was spinning now that Moody analytics has come out with a study that the trade war has cost 300k jobs, either lost or not created. The Trump put is insanity.
Trade Concessions, Central Banks & Retail Sales Ahead
Cramer said that if the markets believe that a deal is unlikely, that they need to sell off massively to show POTUS45 that if he really does not want a deal there is a price to pay. But the markets are acting very contrary to that advice.
Trade Concessions, Central Banks & Retail Sales Ahead
Trump said today he would prefer a permanent solution. That won't happen. I doubt if a temp solution will be done because it involves the legal action of information sharing. It is only illegal according to US law. China will never bow to US law. Trump is ropadoping. He may be blinking, but he will have to back off more to make it a real blink.
Trade War; Easier For Chinese Than Americans
Update 2: Even if Trump does want a stronger economy, it may be that we would lack the immigrant workers necessary to drive a housing boom. New housing sells appliances and other products. An uptick can come in the form of a bubble. But even if housing could boom, Trump's racism has sealed the minorities out that build the houses! If he wants an Aryan state, and immigrants from Norway, there still won't be anyone to build a housing bubble.
Draghi Shoots A Dud - Euro, Bunds Reverse All ECB Moves
Fascinating turnaround.
This Was The Year Bond Yields Were Suppose To Take Off
I agree, as long as it isn't a return to hyper inflation of the 1970's. A little inflation keeps bond rates from going negative. 1 to 2 percent seems reasonable, Alexis. William K is right that excess inflation is not good.