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

Now that all longterm Treasury yields have risen to elevations above the 5% level, we’ve entered a rarified financial atmosphere that drastically raises the risk for stocks, which have attained ludicrous heights of their own, given the...
All the mainstream news publications today are just catching up with my weekend Deeper Dive for paying subscribers, which reported a sea change in the war with Iran (literally). One of the highly consequential stories I included in my...
The virtuous loop that has seen America underwrite stability in the Middle East in exchange for Gulf states recycling their dollar revenues into U.S. Treasurys has been broken.

The [petrodollar] understanding traces back to 1974, when...
The warning I wrote on Wednesday afternoon about Scott Bessent’s big intervention in the Treasury market already proved itself true by Thursday morning—more quickly than I expected. (I would have given it two days to fall apart.) So, I...
Wow! Have I got a feast of headlines and videos for you today as the world falls apart. The question I raised yesterday about whether we were looking at the start of a global bond crash or something less horrendous, answered...
The truth about the economy has been buried for a few years in flawed statistics and shielded from view by the high gloss of easy gains for the rich. The real economy has been crushing down on the masses for more than two years. And now,...
As even the pro-Trump/pro-Russia website Zero Hedge reports today, it looks like Trump is trying to figure out a cut-and-run exit plan from Iran that will enable him to save face. As you could tell from my last article, I think...
I’m not going to comment much at this point on the GDP report that came out, except to note that, while “real” GDP growth came in lower than most economists expected, it came in higher than I expected and higher than I believe is...
Let us lead off with how the Fed is improving the inflation problem for you under the direction of Trump’s newly appointed Fedhead, Kevin Warsh. Warsh is going to ease the burden of inflation on you by dumbing down the inflation gauge...
A video I posted on Monday (and have reposted below), which I said we would get back to, provides a big piece of the truth about the stealth recession I’ve been saying the US is experiencing. It explains why the usual jobs reports and...

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