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
less
Latest Comments
EU Commission To Reject Italian 2019 Budget Plan
Germany at war, economically, with Italy. My, have times changed.
Chinese Prospects Amid US Trade Wars
As the USA fails to attract new business to the USA, Asia is consolidating. Traditional enemies in Asia realize the real enemy is Donald Trump. They have all the customers and stand to win after some pain: www.talkmarkets.com/.../asia-is-bonding-opposite-of-trumps-hope
The Market Isn’t The Economy: A Snapshot From The Depression
Great article. It just proves that stimulus is always misdirected. My father's wages dropped in the Great Depression. His payments stayed the same. In a small town, he was able to walk since he could not afford gas for the car. In other industries there were layoffs rather than wage reductions. My DNA father was a union leader for cigar rollers and was a negotiator and a fierce believer in strikes as a means to improve the conditions of those who worked in the tobacco industry. And yes, I am.7 percent native American and Italian and Jewish and much more. Even ancient Assyrian. Thai is now Iran/Syria. Proud of it all unlike That silly senator Graham. He may have a lot of ancient DNA he would repudiate. Such is the path of fascism.
S&P Reveals $5.8 Trillion In "Hidden" Chinese Debt With "Titanic Credit Risks"
Defaults for a nation that does not mark to market is no big deal. China does not sign Basel Accords.
Wading Through The Market During Earnings Season
True, but it is becoming a national concern. rew-online.com/ripple-effect-big-box-blight/
Wading Through The Market During Earnings Season
Pretty rosy scenario. Market up today, big. Trump really holds the key. He is fooling Wall Street by saying he might raise tariffs on China. Probably until after the election. He wants to raise tariffs on China, and currency wars will result. Earnings are great for these companies, meanwhile 20 percent vacancy in NYC stores. All the money goes to the mortgage and rent. If New Yorkers are struggling what about the rest of the USA? It is a mixed bag, and not as stable as it seems on the surface. New York faces a high rent blight: http://www.vacantnewyork.com/
Weekly Commentary: Rude Awakening Coming
China can afford to lose more people in a nuclear war than the USA can. Just sayin'.
Will Canadian Boycott Start With Kentucky Whiskey?
Just FYI, the governor of Kentucky is still crowing about Canada's tariff on bourbon. Time for the Canadians to keep the pressure on a state that has two racist senators and that does not reflect the values of Canadians or most Americans.
The Credit Cycle Is On The Turn
This has been the biggest tantrum yet. If it falls flat that means no one will ever believe the tantrum boys. The author may be right, but I will pretend I am from Missouri and demand that he "show me".
Why The Stock Market Dropped: My Two Cents
Trump's trade war is dangerous. It is more about what America will miss out on than what it will lose or gain short term.