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

I mentioned in a recent article that the weird thing about this recession is that it is the only one in which personal income has gone up during a recession. That, of course, is because of government assistance, which is making it so we...
Jobs didn’t get much worse in September, but they stopped getting better. This is a tale of where the recovery road for the US economy ended. Unemployment is the crux of the Covidcrisis economic story. While jobs showed a little...
Try to remember the kind of September,



When life was slow and oh so mellow.

Try to remember the kind of September

When grass was green and grain was yellow.

Try to remember the kind of September

When you were a tender...
Since I’ve spent a fair amount of time on the US stock market of late, I won’t say much. Just taking a moment to note September just finished its fourth consecutive week down (final full week), maintaining a downtrend that began as we...
It wasn’t just COVID that got us down the road to ruin. Because many think we are in what looks like a post-apocalyptic world of rubble only because of COVID or because of Trump, I decided now would be a good time to summarize how...
Dave Portnoy shakes fist as market gives him a pounding

Dave Portnoy is shaking his fist at the stock market, daring it to give him a bigger pounding than it already has — telling his gambling fans how the $700 million he lost on...
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...
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...
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...

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