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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Latest Comments
The Bankers’ "Power Revolution": How The Government Got Shackled By Debt
The flaw in this is that interest rates are now declining. But if MMT advocated by Ellen was applied, and rates did go up, the required taxation could be crippling because the accumulated debt and interest on that debt would be much higher than it is now. Keynes makes sense in times of financial malaise but MMT does not.
The Ugly End Of Globalization
Trump could stop the tariffs and save the supply chains. He could allow China to buy more US product. Of course, China was starting to do just that before Tariff Man went off the rails. China bought 1/3rd of luxury products in the world. It would not surprise me if that is diminishing as the once trusting Chinese get patriotic. Trump is a menace.
Trade War; Easier For Chinese Than Americans
Update: Trump is about to impose additional tariffs on Mexico. These have nothing to do with the deal he already made with Mexico. This article speaks to the unreliability of Trump and the United States, supply chain unreliability. The Trump radicals are pushing China to realize this unreliability, as well as Germany and Mexico. It is a waste of time to negotiate a trade deal with Donald Trump. Investors should be alarmed.
Is The Federal Reserve Laying The Ground Work For A Rate Cut
I could see Powell holding out since Trump offended him. Kashkari warned about these same things and the Fed still raised rates. Tariff wars generally push inflation first, then a crash. I could see Powell digging in, prof.
No China Pain, No Trade Gain
Trump is making no progress in Euro trade war. He is putting trade with Mexico in danger. He is hurting the US when he hurts China. Trumo is a danger, both to himself and to most of America.
Recessions Are Forbidden
The jury is out on whether Trump is trying to avoid a recession. He is an economic nationalist, tariff man, and that could lead to our undoing.
Not Winning: Collapse In Global Trade Escalates, Imports -2.7%, Exports -4.0%
I hope the best for our nation, the USA, but our future prosperity is guaranteed to suffer if Trump, Bannon's economic nationalism, and our paranoid military pushes China away. In terms of scale, we are a puny nation. Yet our leaders act as if we are a billion person nation. Trump is delusional.
Is Steve Bannon Doing China A Big Favor?
Update: Even a Fox News contributor has said that China is not an existential threat to the USA. www.foxbusiness.com/.../trump-us-china-tariffs-trade-war However, Bannon and our military think otherwise. We are the biggest danger to ourselves!
China Cannot Weaponize Its U.S. Treasury Bonds
The real nuclear weapon is rare earths, not bonds. Bannon wants a cultural decoupling, a divorce from China:
talkmarkets.com/.../is-steve-bannon-doing-china-a-big-favor
Stock Market Reversal - Big As Recession Fears Increase
Steve Bannon says Trump will not give in. So, he could give in but he would go against his base and against the new CPD. We are fast boxing ourselves in as a nation. Danger! talkmarkets.com/.../is-steve-bannon-doing-china-a-big-favor