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

Melt-ups precede a major stock market crash, and by all appearances we may be in a melt-up right now that could cause a stock market crash in 2016. First, a small bit of euphoria kicked up permabull adrenaline in the US market when Brexit...
Summer vacation is here -- and the whole global family has arrived at Central-Bank Wonderland, the upside-down, inside-out world that banksters and their puppet politicians call “recovery.” Everyone is talking about it as wizened traders...
Nothing is more shameless in a bedazzling sort of way than rich banksters standing on the public curb with their hands out. First, we had the admission this past week by a major French bank that Italian banks are so sick (and so too big to...
At long last the tyranny of the global financial elite has been slammed good and hard. You can count on them to attempt another central bank based shock and awe campaign to halt and reverse the current sell-off, but it won’t be credible,...
Regardless of the extent to which global fear mongers are right about the economic catastrophe that will hit every shore of the world after the Brexit, the most significant fact of the Brexit will be that the UK was the first nation to...
The economics world is all a-chatter about how central banks and their member banks have moved interest rates beyond the zero bound to charging negative interest rates. There is just as much brainless talk about why this is accomplishing...
In the fall of 2015, I said the Federal Reserve would raise interest rates once in December and then would not be able to fly any higher after that. The stock market would crash shortly after the Fed’s pulled up on the interest stick (...
I believe a 2016 recession is already a fact in the US, and the Great Recession will return with a vengeance. That recession never really ended. It was simply propped up while all of its fundamental flaws remained, and the props are now...
The perfect storm I predicted against the price of oil in the Ides of March has not fully developed, but all the forces I spoke of are continuing to build. The balmy days that prevailed for oil prices in early March have gone away,...
Stocks are feeling the love. While the momentum of the stock rally stumbled in the last two weeks of March, the Dow did manage to break ever so slightly above the downward trend line of the high points it established over the past twelve...

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In 1934 President Franklin Delano Roosevelt devalued the dollar by raising the price of gold to $35 per ounce.