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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The Old Keynesian Guidelines Have Been Forgotten
We are experiencing Trump's version of #MMT but only for defense spending, setting up for possibly dangerous wars.
Four Signs Trump Could Ignite A Cold War With China
We have history to teach us. Tariffs in the Great Depression led to Adolph Hitler. Trump admires strongmen. He is, so far, adverse to hot war. Perhaps this will be the only attribute that saves him and us. But he could also paint himself into a corner.
Axel Merk: “Economy To Die A Traditional Death…Inflation Is Going To Move Higher”
Axel has it wrong. The American economy is actually more dependent on trade than is the Chinese economy because China makes most of what it consumes and the USA does not!
Fed Lie Of The Day: "Low Inflation Is One Of The Major Challenges Of Our Time"
But Mish, you have warned of a deflationary world. Powell is acknowledging a similar position. As Tim Duy has said, the numbers call for a rate cut. But probably a small one, not one like the big cut Trump wants. GDP is slowing. I do not think we will win the trade war either way because we don't make what we need while China does:
talkmarkets.com/.../four-signs-trump-could-ignite-a-cold-war-with-china
What The Trade War Means For The Bond Market
Jamie Dimon is a taper tantrum player. It should be beneath him, but apparently not. If the trade war deteriorates far enough for China to be dumping vast amounts of treasuries, the world will flood to treasuries for safety. The world will become a very dangerous place.
The Week Ahead Featuring The Battle For 7.0
Perhaps the USA is the nation flaunting international law, Marc.
Trump’s Trade War Sets Up A World Of Deflation
This is a trap for the Fed which will be late to act because of its watching inflation and wage inflation.
Tariff Man Trump Fooled Wall Street From The Start
We are close to the brink.
Tariff Man Trump Fooled Wall Street From The Start
Update 4: US irrational sanctions on Huawei are by presidential decree. This will slow Huawei but make the giant telecom even more independent. The US wants to separate this cowardly act from the broader trade war. That may not come to pass. The world economy and the USA stock market are not immune.
Weak Economic Reports Didn’t Stop The Market From Rallying
I think the stock market going up in support of Trump. It is a phony rally and likely engineered. Trump cannot really win the trade war, so it is a delusional and pathetic display of American desperation. Sad.