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 Is Current Economic Growth Called Strong?
Trump could be paying for the articles which promote 2.3 percent GDP growth as being strong. Most people know it is slow growth.
Study Discovers That If The Debt Machine Was Turned Off, The U.S. Would Immediately Plunge Into A Horrifying Depression
There was not just one reason.
Twitter Terror
Well, from day to day it had appeared to. You may be right, as Trump is becoming less believed when he says a truce can be made with China.
Study Discovers That If The Debt Machine Was Turned Off, The U.S. Would Immediately Plunge Into A Horrifying Depression
The Fed was bowing to politics in those days. LBJ assaulted the Fed chairman in the mid 60s.
Then Nixon came along and the gold standard was abandoned. The Fed was not ready for that.
Study Discovers That If The Debt Machine Was Turned Off, The U.S. Would Immediately Plunge Into A Horrifying Depression
The primary cause of 70s inflation was a continuation of Fed easy money that LBJ required.
Twitter Terror
Watch your wallet.
Study Discovers That If The Debt Machine Was Turned Off, The U.S. Would Immediately Plunge Into A Horrifying Depression
No. LBJ fought an expensive war and introduced the Great Society. The result was massive and hurtful inflation in the 70s. So deficits are not always the solution.
Study Discovers That If The Debt Machine Was Turned Off, The U.S. Would Immediately Plunge Into A Horrifying Depression
I see no reason why Bloomberg is wrong. China bailed us out of the Great Recession credit crunch. Maybe next time it won't, or will be too weak. Trump is playing with fire.
Study Discovers That If The Debt Machine Was Turned Off, The U.S. Would Immediately Plunge Into A Horrifying Depression
The government considers debt that is manageable as a percentage of GDP. Your MMT would throw that restraint out. How far out would determine the risk.
Why The 100-Year Bond Is Unethical
I think the 100 year bond is ok. The future generation can offset the taxation through issuing long bonds themselves.