The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said.…
“This is a deeply sobering outlook,...
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
Bloomberg reported this week that thirteen US companies (in the 50-million-plus size) filed for bankruptcy last week.
That brought the total for the big boys and girls this year to 117, which matches the record peak for the first half...
That brought the total for the big boys and girls this year to 117, which matches the record peak for the first half...
Look at the plethora of problems in my list of 2020 economic predictions, which are so severe and so likely to get even worse that it’s more difficult to imagine they won’t get worse than to believe they will. Some are...
The first graph gives you a glimpse of the “huge jobs rebound” that shocked the stock market into spurting past its 200 DMA barriers because retail investors and algos aren’t looking past the headlines.
The second graph below shows you...
The second graph below shows you...
I believe in it in the sense that I believe it will stupidly become even stupider for a short time. So, I’m putting money back into stocks in order to bet on stupid, not because I believe in a phantom V-shaped recovery, but because I...
Many people are warming up to the idea of digital currency in a cashless society due to coronavirus because going touch free is cleaner than cash. Many businesses are already moving to make digital currency the only form of transaction...
This may be my most important article to date. Bill Gates went viral in several controversial interviews last month, advocating mandatory digital ID as proof of coronavirus vaccination as soon as a vaccine is available. The proof will be...
It was the best of times, it was the worst of times. April closed as the best month for the US stock market since the V-shaped recovery that followed the Black Monday stock market crash of 1987. April also delivered the deepest, broadest...
Ron Insana, whom I’ve always thought was well named due to the funny way his brain works and the way he smiles even when nothing is happening, has just melded minds with Kudlow & Cramer to support a coronavirus war bond:
My...
My...
Today the bulls did it it again. This market remains deeply entrenched in denial, soaring even as unemployment soars higher toward the grand summits of the Great Depression and with certain knowledge that many jobs will not return.
The...
The...
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