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
Oil yesterday plunged quickly below $40 per barrel, taking oil prices down more than 20% from their high a little over a month ago. That officially defines a bear market in oil. As of today, oil has also moved below its 50-day, 100-day and...
The crude oil price rally has been completely destroyed, though I’ll admit I was wrong when I predicted crude oil prices would plummet in March or April as the perfect storm developed against oil prices. Instead, they rallied. In spite of...
Brexit — the second major landslide in the Year of the Epocalypse — has bankers all over the world scrambling to pick up and prop up their crumbled facades this week. This is one more jolt in the...
This picture of one port tells a major story: Tankers are running circles around the Chinese port of Qingdao. One ship has been carving circles in the water for twenty days, waiting for a chance to offload at any one of several “...
This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve tried to push back up to that distant...
I have pointed out in previous articles how most of the growth in stocks over the past few years has been due to stock share buybacks. Without this hideous (and at one time illegal) practice, there would have been no bull market over the...
The fate of oil companies and nations hangs in the balance of oil prices. Russia could go broke. Some think that's by US design. Saudi Arabia could experience its Arab Spring if oil prices remain too low too long. And OPEC is dead. That's...
The question begs for conspiracy theories to satisfy it, but one might more aptly say that central banks beg for conspiracy theories to explain them, since they operate in the shadows while being given charge of all the financial...
As predicted relentlessly here, the scuttled meeting in Doha to limit oil production broke up with no agreement at all. The meeting foundered like a tanker snagged in the desert sands because of the singular...
The week was full of emergency meetings, banker summits, crashing European banks and the worst bank reports since the Great Recession.
Just about every major banker and finance minister in the world is meeting in Washington, D.C., this...
Just about every major banker and finance minister in the world is meeting in Washington, D.C., this...
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