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

The Great Recession There are lies, damned lies, and statistics.–Mark TwainDo you ever see graphs like this one and wonder why the unemployment rate has almost completely normalized since the start of the COVID pandemic crash; and, yet,...
Not even close to transitory. After giving its turkey advice for Thanksgiving, the Federal Reserve finally gave up completely on the “Inflation is transitory” chorus it has been singing all year. Chairman Powell of the People’s Bank...
The US central bank has apparently taken on a new mandate — being your dietary coach, advising Americans to fight the inflation it helped ignite by eating tofurkey and other soy-based foods for Thanksgiving, instead of turkey....
One or two dimwits told me I was stupid to be thinking inflation would be the driving force of 2021 due to shortages and Fed money printing. The cockiest one even assured me his second-grade education in economics said inflation wasn’...
A little virus and a big set of misguided responses to it are sinking the unsinkable world.While third-quarter GDP growth came in a little higher than the Atlanta Fed was predicting, it still came in below the consensus of economists,...
In an effort to prove the Fed’s tapering won’t matter, I recently saw one stock advisor claim that, when the Fed tapered its QE from late 2015 into 2016, “the stock market rallied 60% in an almost straight line higher.”Wow! Let’s take a...
To keep it simple: Nope! Not this time anyway. That is, however, what you hear from the wistful market makers who want to see last week’s CPI release as proof inflation was “transitory.” Let me disabuse you of that fantasy entirely....
Interestingly, you’re about to find out that the fall in housing prices and home sales may power us further into high inflation for longer. We are entering a situation that could turn into a true oxymoron where lower prices equal higher...
The bond market is crazy weird right now. Inflation is soaring, and bond yields, which are supposed to price in inflation, are falling through the floor, causing many experts to scratch their heads as they try to figure out what on earth...
The Fed candidly admitted today’s soaring inflation is not what it had in mind, though it certainly is exactly what I’ve had in mind:At a news conference after the Fed’s statment [sic.] was released, Chairman Jerome Powell said he expects...

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