Garrett Baldwin
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.
Garrett'S LATEST HEADLINES
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Here's the Real Danger from Deutsche Bank
In 2008, just before Lehman Brothers' balance sheet collapsed and a furious employee punched CEO Dick Fuld square in the face, then-New York Fed President Timothy Geithner had a big idea…
Take the big, failing U.S. banks, and sell them for pennies on the dollar to the larger, somewhat healthier banks.
Make these institutions larger, and they could absorb all the toxic balance sheets – and save the global financial system from calamity.
That was the theory, at any rate. We all know how it worked out in the end: Counter-party risk froze the global credit markets and sent the financial system into a tailspin.
Congress failed to grasp what would happen to a financial system that lacked sufficient liquidity to function – like a brain running low on oxygen – before it passed the $787 billion stimulus of 2009. Two more rounds of quantitative easing, courtesy of an "independent" Fed, would follow.
Of course, the "real" costs are virtually incalculable – incalculable costs that are still, a decade later, being borne by the middle class and working people of this country.
That's nothing I'd care to live through again, and yet here we are: staring down the barrel of a disaster brewing in Europe that could jump the Atlantic in minutes... - As Oil Prices Fall, Here's What You Need to Do Now
- The Shocking Way the Fed Has Doomed the Markets
- Three Protective-Profit Plays to Own Now
- My Ultimate "Flight to Safety" Play Costs Less Than a Tenner and Puts 4% Cash in Your Pocket
- I'm Not the Only One Who Loves This Beaten-Down Spin-Off
- Why I'll Never Buy and Hold a Stock Again
- The Dow Jones Today Will Sink After China's Economy Stumbles
- Why the Dow Jones Industrial Average Is Rallying Despite U.S.-China Trade Woes
- The Dow Jones Today Will Lose Hundreds of Points as China Raises Tariffs