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
A (Short) Reprieve For China While The Dollar Stays Firm
China, India and Russia unite while we will be stuck with our slow growth and Japan's and Europe's no growth. Trump trade block stupidity on display.
Storm Clouds On The Horizon
So we will drop to 2.5 GDP growth while China will drop to 6.2. Delusional Trump must think we are winning. His economorons have to be nervous. But they probably aren't because they are morons.
Tumblin’ Tuesday – Dollar Up, TBills Down, Markets Look For A Bottom
Lol Phil. Trump and his economorons. That about sums it up. World growth crumbles, and China, India, Iran and Russia unite. That is the world's largest trading block and compared to it we are but a pimple on the face of world prosperity.
The Next Financial Crisis Is Starting In Emerging Markets
I disagree that China will crash the hardest. It is not subject to Basel accords, and clearly it does NOT have to mark to market! The companies are owned by the central bank, lol.
The Next Financial Crisis Is Starting In Emerging Markets
Emerging markets could make the US financial system very unstable. China would probably like to do that.
Wide Gap Between Wages And Median Home Price: Home Buyers' Dilemma
But this is just forcing multigenerational living on steroids. It is funny to see Joe Weisenthal, I think it was Joe, anyway, and the guest talk about pent up demand for housing on Bloomberg. Moon, I would call it caged demand, because it isn't going to escape anytime soon.
You Ain’t Seen Nothing Yet
Eventually Americans will feel tariff pains and it won't be fun anymore.
You Ain’t Seen Nothing Yet
We need to fund a military buildup in the Pacific? Really, prof?
How US Dollar Penalizes Emerging Asia
The United States is weak, but it clearly wants to weaken China, and the nations of Asia. I view it as a cultural war, professor. The US accounts for a fifth of the world economy, but it appears that everyone is deathly afraid of that fifth. The ones that are not, like India, which did a deal with Russia, and China, which is in Trump's crosshairs, will need to consider uniting against a common foe, Donald Trump. I wish the best for America, but it is clear Donald Trump could care less about free trade unless it is in his block, in his favored districts. China is out. Many Muslims are out. India is going to be out, maybe. And Russia is completely out, but Trump just isn't going to war with Russia because Russia gives the Republicans money. But the machine for attempting world domination rests with America, and the world has suddenly become a far more dangerous place. I hope you would consider this: www.talkmarkets.com/.../is-the-usa-too-weak-to-let-china-succeed
Breaking With Wall Street: L.A. Puts It To The Voters
I believe that in some sense Wall Street owns America. However, if it owns it why is it tolerating Donald Trump's culture wars against Muslims, Chinese and Europe. You wonder if Wall Street wants to make money why it would go along with a proven strategy belonging to Trump and Bannon to slow world trade?