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 highest summit of irrational exuberance ever, which is not even seen by those engaging in it, establishes the perfect peak for the greatest global economic collapse ever.

Some days the level of denial in the stock market twists...
You may be worried my prediction that a recession will start sometime this summer is not looking too good. So was I after first-quarter corporate earnings started coming in better than what economists expected. Except that barely...
The US stock market is slightly overbought (which is not a positive in terms of head room for more of a rally).
It’s massively built up on debt that is now more expensive to maintain and/or obtain.
The Fed is still rapidly tightening...
The Fed’s surprise pivot away from any interest rate increases this year has boosted prices of stocks, high yield bonds and other risky assets in spite of nagging investor concerns about slowing global economic growth….. The...
We now know that the Retail Apocalypse took another trip downhill during the all-important holiday season. December reports show retail sales declined more in one month than they have since … the Great Recession. Notice what a common...
Federal Reserve Chair Jerome Powell placed his put in stocks while saying there is none. When he doubled down today on a more dovish approach to the economy, Powell claimed the Fed is not designing interest rates to keep the market...
In a surprisingly candid admission, two former Federal Reserve chairs have stated that the Federal Reserve alone is responsible for creating all recessions in the United States.



First, former Fed Chair Ben Bernanke said that...
While glowing presidential proclamations about US GDP growth last week did nothing to prevent the stock market from rushing headlong over the cusps of a FAANG stock ledge, the market is taking a breather today. So, let’s take a breather...
Just ten days ago, your Lone Ranger here laid out why one should see the barely beginning downturn of the housing market in Seattle as the bellwether for a national housing market bust. Naturally a snowflake or two of criticism landed on...
Two of the original FAANG stocks that carried the US stock market higher throughout the Fed’s fake recovery from the Great Recession have revealed in the past week how quickly overpriced, bubblicious stocks can turn on investors and bring...

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Domestic gold prices tumble on reduced demand