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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Is The Fed Wrong In Caring About Wages, Not Inflation?
Update 3: The Fed clearly does not relish going toward the zero and negative rates. Normally it would be better to lower rates as a slowdown occurs, but these are not normal times. We are so close to zero that the Fed is reluctant to weaken banks heading into a probable recession.
Fed Insider Proposes Using Fed Policy To Punish Trump
Larry Summers is so full of it. Dudley is right at this time in history because the Fed wants to stop the slide toward negative interest rates. In other times, when rates were higher, Dudley would be wrong. But IMO, not this time.
The Trade War Has An Upside
Dudley is right. Don't give in to Trump. Nearing the negative rate world will not be good for banks or growth.
Are Negative Interest Rates Destiny For The US?
False dawn unless the US gives up its quest to apply our intellectual property laws to China. International law and US law are different.
Risk Reverses On Soothing China Rhetoric
The fundamental desire of US trade representatives is to impose an American law regarding intellectual property sharing. It is not an international law. So China would likely never comply with the USA law.
Trump Economic Plan Revealed: What Should The Fed Do?
Update 7: exgovernor Dudley says to leave Trump out to dry. I suggested before Dudley the Fed leaving POTUS45 out on a limb, in order to protect positive yields in the USA bond market.
Consumer Spending Leads Employment — But What Leads Consumer Spending?
People who don't get raises see weakness. It is an easy analysis for workers.
S&P CoreLogic Case-Shiller 20 City Home Price Index June 2019 Year-Over-Year Growth Slows To 2.1%
House prices are teetering.
The "Real" Goods On The July Durable Goods Data - Tuesday, August 27
Nominal hides truth. Concrete proof of the money illusion!
Technically Speaking: Market Risk Is Rising As Retail Sends Warning
This willingness to talk was manufactured by Trump himself! Wall Street suckers are a dime a dozen. Nice article!