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 JournalThe 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

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...
Sometimes weeks happen in a day, and we seem to be living in such times. In my latest Patron Post I laid out how Putin’s War and the sanctions imposed by the West and other nations will cause a tectonic shift in the new world...
The battle between King Dollar and Tsar Ruble is on, and Russia’s efforts to dethrone the dollar have already lost. The ruble has already been knocked off its rickety wicker throne and has had its head kicked in. It’s just that...
I tried my best to give the BLS the benefit of the doubt when it did not massage the inflation rate in its last CPI report lower for January than December as I thought it would. I did, that is, until I dug deeper into what the BLS did...
The White House warned us the payrolls print would be low due to Omicron. Bank economists ranged from low to sub-basement negative numbers for today’s expected payroll print. Then the number came out massive beyond belief … and self-...
Recession I try to point out risks I believe most people do not want to see or cannot see because they don’t fit the norm by which people construct their perception of reality. I am accustomed, therefore, to being scoffed at because I am...
There is no safety, as in times past when the Fed was draining money out of the economy and could just flip back to pumping money in, because the Fed is running the outflow pump fast and furious, and the Fed has no option for reversing the...
Forget bond pricing as a way of gauging what inflation is going to do. The Fed is still buying the lion’s share of the bond market. So, while bonds have begun pricing in inflation, they have a lot more to price in over the next couple of...
When the LA Times wrote that “A record 4.5 million Americans quit their jobs in November,” they said it was… a sign of confidence and more evidence that the U.S. job market is bouncing back strongly from last year’...

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