David Haggith

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.

David Haggith Articles

So, the bull market bounced back, right? Not so fast. When one appreciated reader suggested there would be a huge plunge the day after Christmas, given how badly the market plummeted the day before Christmas, I cautioned against that...
Until you got to this tax and spending deal a year ago, it was one of the most hated bull markets. The markets steadily climbed one wall of worry after another, and the problem was that the economic data did not confirm it.
This ain’t no ballgame. This bear has shown up for blood, not sport. The Nasdaq intraday hit the 20% down mark that is widely regarded as qualifying for a change from a bull market to a bear market. A close at that level would have made it...
It’s downright wintry on Wall Street right now. Firmly establishing the worst start of a December for the US stock market in 38 years, all three major stock indices plumbed the greatest depths they have hit all year … and it’s been a bad...
The Big Bear is back. Ursa Major is in the house of the rising sun, and Taurus is in the house of the setting sun. Those are bad signs for investors who are now daily diving into their horoscopes. The market is pouring out of an inverted ...
As we pass from early summer into late summer today, stocks on all the major indices open the day on the slide. The “Tech Wreck,” as it is being called, has been noted by many, as I’ll detail here. That is in spite of the fact that the...
Even the best day of the year for stocks in the United States struggled to pull this market into better shape. While summer is a down period overall for stocks, July 2nd holds the position of being historically the most bullish day of all ...
The Federal Reserve is now hacking its own zombie recovery to death and eating it by reversing the actions it employed to create this artificially supported recovery. Each time the Fed unwinds its balance sheet, 10-year bond rates recoil,...
The 1929 stock market crash became the benchmark to which all other market crashes have been compared. The following graphs of the crash of 1929 and the Great Depression that followed, the dot-com crash, and the stock market crash during...
Many of the 2017 economic headwinds I’ve described will hit during the Ides of March, just as the Trump stock-market Rally shows signs of topping out. This might not be the Great Epocalypse — not all at once anyway — but a large and likely...

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The California Gold Rush began on January 24, 1848 when gold was found by James W. Marshall at Sutter's Mill in Coloma.