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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This Upcoming Treasury Borrowing Binge Could Hit Markets Harder Than The 2008 Crisis
The Fed is in business to sell bonds. That is the primary function of the Fed, IMO. So, there have been many new markets for bonds, and margin calls on those bonds which are used as collateral will require more bonds. So, QE ended and bond demand remained strong. What is different now?
The Limits Of Monetary Policy In Today’s Fiat Currency World
Monetary policy has, in the past, been distributed to the real economy instead. The problem isn't monetary policy. The problem is it isn't directed to the right people. So, for that reason, people should be concerned.
This Upcoming Treasury Borrowing Binge Could Hit Markets Harder Than The 2008 Crisis
So, you are saying that bonds will suddenly be greater in supply than demand in these perilous times? I find that hard to believe.
Goldman Sees 50% Chance Of A Government Shutdown
Isn't the shutter downer, Ted Cruz, a Goldman beneficiary? Goldman probably has him programmed, like the little robot that he is. Just my opinion!!!
How Is This Even Legal? EM Debt Fund Cash Balances Hit 4-Year Lows
These investors refuse to hold cash? They must all believe in Says Law. :)
West Point Prof Bradford Says If You Oppose The War On Terror You Are The Enemy
Henry Kissinger has come out saying in 2017, that the USA must preserve ISIS. Now do people understand that the war on terror is fake and that regime change is all that matters to US leaders and Netanyahu?
Is America Fighting A Phony War On ISIS? Think About Oil
In August of 2017, Henry Kissinger inadvertently verified this article by claiming that ISIS should be preserved. That has been the policy of the United States.
Little-Watched Non-Employment Index Confirms Strength Of Job Market Recovery
Interesting. That must be why wages are soaring. Oh, wait, they aren't Ed. Maybe you have some data that is more recent on wages?
Epic Default Cycle Accelerating In China
I think we have to go back to the fact that the US signed the Basel Accords and China did not. The banks in the US were forced to bring their off balance sheet debt back on to the balance sheets when the Fed destroyed the Commercial Paper market. China doesn't require that its central bank destroy markets where most of the people pay their debt, but some don't. The requirement to mark to market was stupidly required here, as bonds containing mortgages that were being paid were forced into default. Here it was used to ultimately transfer wealth from the middle class to the wealthy. That won't happen in China, IMO.
Did The Turkey And Russian Spat Change The Fake War On ISIS Into The Real Deal?
This article is further vindicated by Henry Kissinger's warning to Trump that ISIS must be "preserved".