David Haggith
David Haggith started writing about the economy after he predicted The Great Recession half a year before it hit and was puzzled as to why no economists or stocks analysts saw it coming. In the months after the crisis broke out, he started to write humorous editorials in a series titled “Downtime,“ which chided the U.S. government and bankers who should have seen the economic collapse coming but whose cronyism, greed and ineptitude caused them to run the world into a ditch. Those articles were published in The Hudson Valley Business Journal, The Valley City Times-Record (North Dakota), and The Daily Herald in Tennessee. Haggith is dedicated to regularly criticizing the daily news — not just the content but the uncritical, unthinking nature of almost all of the reporting. He now writes his own blog, The Great Recession Blog, to break down the news as an equal-opportunity critic toward both Republicans and Democrats / Conservatives and Liberals … since neither kind of politician has done anything worthwhile to plot a better economic course. His articles are regularly carried by several economic websites.
Articles by David Haggith
This morning, the S&P 500 joined the bear parade and crashed into a full-blown bear market. So did EVERYTHING ELSE that is melting down around the world this morning!The headlines are loud and clear: Stocks are plunging again …...
It seems like only yesterday that I wrote …Sad are the market maniacs and mavens who thought they’d take one last ride up the big hill. Sadder still are they likely to be tomorrow coming down it to find the tracks are out right after the...
Alarms are ringing everywhere for the economy. Not all of them are due to Donald Trump, though many are. For example, one big alarm that is ringing is a towering stack of evidence that emerged today, showing the economy was already...
It just got ugly in the bond market. Ugly for stocks, anyway. Ugly for those owning bonds to trade. Good for those wanting to buy safe Treasury interest to hold to maturity.Janet Yellen figured out that Covid stimulus may have contributed...
The last time I said the stock market was this precariously poised to crash was in early 2020. A month later, the market dove headlong over a cliff, and it took all the king’s horses and all the king’s men to put the market and economy...
Well, the GDP revisions did not take GDP down at all in the manner Danielle DiMartino Booth claimed we’d see in our last two editorials. The US government held its reported Q2 GDP at a healthy Bidenomics 3% in today’s released revisions....
You’d almost think they [financial news media] never said any of the things they, in fact, did say as they now start lining up to report the same things I’ve been saying all year; and they do this without batting an eye over how that means...
Reality keeps hitting points home for the poor Dow and its beleaguered company of other indices. It dented the Dow pretty badly today. A trio of central banks have all underlined this week the fact that the battle will be long, and their...
Is it too extreme to say an annualized GDP growth number of minus 1.4% this quarter puts us in recession in this quarter, and is it too extreme to call that a “crash?” No, it is not in the least extreme, and I...
The housing boom is over, and broader effects are beginning. The steep decline of mortgage applications due to rising mortgage rates and housing inflation means layers and layers of buyers are leaving the market. Payments on the same home...
Pages
