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
"One Size Fits Germany" Mathematical Impossibilities, Get Your Money Out Now!
This is a terrific article. The ECB is trying monetary policy on a Eurozone that is a psuedo nation, a pretend nation. Someone will get hurt, or maybe all of the above.
The Party Is Over
I am a little more optimistic. But retail investors should tread lightly.
The Party Is Over
Dreadful forecast. But something between what we have now and the end of the economy surely will happen. Don Meredith singing, Turn out the lights, the party's over, signalled the end of a competitive Monday night football game. That may signal the bad ending to this game also.
Italy Bond Yields Surge In Confrontation With ECB President Mario Draghi
This is an obvious major flaw of the Eurozone, different bond yields.
Federal Reserve Independence – Under Attack Again?
This economy has a stock bubble and a housing recession. This economy has low unemployment but added low paying jobs. With these contradictions, a cross the board raising or not raising both are risky.
Trump: The Federal Reserve Is My Biggest Threat
Shake people out of the market and keep wages low. That sounds like the Fed. Well, from this Forbes article back in 2008, "smart buyers" were buying on the dips, until of course, the crash: www.forbes.com/.../..._dp_0502dailytrades_inl.html
On Mondern Monetary Theory And Some Odd Twists And Turns In The Evolution Of Macroeconomics
This is a challenging article. I am not certain the MMT camp has it right. But geniuses can't agree so what can I hope to grasp? I will be thinking about it though. And of course, it is clear that McConnell's racism caused the stimulus to be too small for Obama. That is almost treasonous, considering that Kentucky racist let Trump open the floodgates of tax repeal. However, one question for the author, if MMT is right, and taxes do not finance the government, why should anyone worry about fiscal responsibility? Seems like a tension in their thinking. Or is it? As Benjamin Cole has said, in macroeconomics, no one is ever wrong.
September 2018 FOMC Meeting Minutes: Many Nuggets Of New Thoughts
Wow, it almost seems like the Fed wants to make certain it destroys the tariff wars Trump started while neutralizing the tax cuts. I hope the tariff wars fail, but turbulence is on the way!
Asia Is Bonding, Opposite Of Trump's Hope
It is surprising to me, Trader, that America does not think more about the nation's long term economic future when formulating foreign policy.
Don’t Count Your Barrels
Phil, it occurred in the Saudi embassy. Trump has business interests in Saudi Arabia and is looking out for himself. Policy between nations are not decided in court!