I’ve been saying the stock market will take a turn for the worst sometime between mid-August and October. Numerous market metrics now show a market that looks ready to turn over. The bear may soon be back in charge.
The futility of...
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
One of my reasons I started this website years ago was to counter all the denial that I saw in the mainstream media about how long and deep the problems from the Great Financial Crisis would be and about how we were failing in every way to...
These pictures are worth thousands of words:
Unemployment: No “V.”
Or expressed this way:
Still no “V.”
Workplace activity: No “V.”
Total business reopenings on Yelp: No “V.”
Percentage of all...
Unemployment: No “V.”
Or expressed this way:
Still no “V.”
Workplace activity: No “V.”
Total business reopenings on Yelp: No “V.”
Percentage of all...
When dinosaurs went extinct, mammals gained opportunity to flourish. Crises for some bring opportunity for others who can adapt to benefit from new environments. I try to enable my readers to position themselves to be the ones who will...
It’s time to show you’re Fed up! Get mad as hell! Don’t take this any more! Scorch the earth with your rage! Yell from the rooftops! Stick your head out the window and scream! Fight the economic injustice that serves the rich! Kick...
The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said.…
“This is a deeply sobering outlook,...
“This is a deeply sobering outlook,...
Bloomberg reported this week that thirteen US companies (in the 50-million-plus size) filed for bankruptcy last week.
That brought the total for the big boys and girls this year to 117, which matches the record peak for the first half...
That brought the total for the big boys and girls this year to 117, which matches the record peak for the first half...
Look at the plethora of problems in my list of 2020 economic predictions, which are so severe and so likely to get even worse that it’s more difficult to imagine they won’t get worse than to believe they will. Some are...
The first graph gives you a glimpse of the “huge jobs rebound” that shocked the stock market into spurting past its 200 DMA barriers because retail investors and algos aren’t looking past the headlines.
The second graph below shows you...
The second graph below shows you...
I believe in it in the sense that I believe it will stupidly become even stupider for a short time. So, I’m putting money back into stocks in order to bet on stupid, not because I believe in a phantom V-shaped recovery, but because I...
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