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

Jamie Dimon warns in today’s headlines that the American bond market is going to certainly see some breakage. He’s not sure when but he says the bloated US debt coupled with the irresponsible disability of congress to even face up to what...
Today was a day of many strange reversals … and, in some cases, even stranger opinions about them.Housing flips now that no one is flipping housesTake for example one of the articles below on the housing market. It says, “The housing...
Even Trump boasts that his “Big Beautiful Bill” surpasses the scale of anything in history. In fact, if this Bill were a man, he’d have to be transported on doubled pallet boards, across which his exposed fat would sprawl in...
This monstrosity has two heads. We have reports today of two kinds of inflation already hitting US consumers due to the Trump tariffs—both extremely hot. One is a kind that will never show up in inflation reports because it does not appear...
Last week I covered how President Trump managed to squeeze a bad deal for the US out of the UK with his trade war—a deal assuring US citizens pay about 8% more in US taxes on all goods purchased from the UK than they had to pay prior to...
Tariff news out of Trump’s mouth was not what stocks wanted to hear, so their nonsense rally ended today.Stocks slipped Tuesday after President Donald Trump’s shaky commentary on global trade deals, dashing hopes that progress will soon be...
This morning, the S&P 500 joined the bear parade and crashed into a full-blown bear market. So did EVERYTHING ELSE that is melting down around the world this morning!The headlines are loud and clear: Stocks are plunging again …...
It seems like only yesterday that I wrote …Sad are the market maniacs and mavens who thought they’d take one last ride up the big hill. Sadder still are they likely to be tomorrow coming down it to find the tracks are out right after the...
Alarms are ringing everywhere for the economy. Not all of them are due to Donald Trump, though many are. For example, one big alarm that is ringing is a towering stack of evidence that emerged today, showing the economy was already...
It just got ugly in the bond market. Ugly for stocks, anyway. Ugly for those owning bonds to trade. Good for those wanting to buy safe Treasury interest to hold to maturity.Janet Yellen figured out that Covid stimulus may have contributed...

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Spanish Conquistadores invaded the Inca Empire in 1528 to steal their silver and gold.

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