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
The new Donroe Doctrine is already taking shape around Venezuela’s vast oil plays. Chevron has just contracted eleven tankers to start transporting oil out of Venezuela, making Big, Big Oil the obvious winner. The normally pro-Trump, but...
While I may be tempted to write in greater depths about some of these stories in my weekend Deeper Dive, we’ll have to see what more the week brings, but today sure brought a whirlwind of news. The swirling headlines of economic and maybe...
“The [stock] market is very fragile,” warns portfolio manager Lance Roberts. AI mania and the dot-com bubble crash have a lot in common, another article lays out. The economy’s “false calm” is actually its most dangerous sign, says an...
Shoppers are strongly complaining about how much they are struggling under inflation this Christmas season as they try to buy gifts. The Trump Administration, on the other hand, keeps insisting it is all a Democrat hoax, and conveniently,...
The results are fully in. We all remember the brazen braggadocio as Musk raised a chainsaw overhead and boasted that he was slashing government expenses. We also remember the ham-fisted job the DOGE brothers did that frequently resulted in...
Economists and politicians like to stick to the one big number to indicate how the economy is doing—GDP. However, as the first article below points out an economy can be in big trouble in many areas and still look OK on the top line. That...
Even the “Duke of Doom” here at The Daily Doom was not negative enough on his prediction yesterday that the hyper-achieving results reported by Nvidia would not lift the stock market for long:A nice boost for investors to be...
This is rich: After months of everyone in the Trump administration—including the president—saying tariffs do not cause inflation, they just admitted (including the president) they KNOW that tariffs do cause inflation and a...
A day after writing again about the inevitable stock market crash that is showing up first in AI stocks, the stock market broadened its slide today with the Dow ending down about 800 points (having fallen about 820 moments before...
Trump’s latest promise is that the government will take $1,866 away from you in taxes and then refund $2,000 of that to you, while using the profit the government retains from that transaction to eliminate the national debt. At...
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