Author Archives: David Haggith

Lunatic Larry Promises Trump Candyland for Election Year

The Great Recession National Economic Council Director Larry Kudlow, a top economic adviser to President Donald Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020. “I am still running a … Continue reading

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The Tick, Tick, Talk of Recession Drones On

The Great Recession With stocks priced at record highs far above the economic landscape and still rising, the economy is still receding below. We’ll know at the end of January if the fourth quarter of 2019 was the worst of … Continue reading

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Two Years of Trump Tax Cuts: What did they get us?

The Great Recession After two years of this third experiment with trickle-down economics via the Trump Tax Cuts, we should have enough data to get an unbiased, factual view of the results. The following is going to be a short-and-sweet … Continue reading

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Dr. Fed Frankenstein Kept Alive by Zombies

The Great Recession Did you know Dr. Frankenstein created a monster that stays alive to this day by eating zombies? Neither did the zombies. Neither, apparently, did Dr. Frankenstein. In fact, the zombies, being braindead as zombies are, do not … Continue reading

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Repocalypse: The Second Coming

The Great Recession This little monster that feeds beneath the surface of global banking at its core briefly raised one ugly eye out of the water as 2018 turned into 2019. I wrote back then that the interest spike we … Continue reading

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No-Deal Trade Deal, Not a Done Deal!

The Great Recession Clear back in June I made the following easy prediction about Trump’s negotiations with the Chinese leader whose face can only be improved by a caricature: The market finally fell in May after months of rising because it started … Continue reading

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What Went Up Came Down and Up and Will Come Down Again

The Great Recession It can’t come as any surprise that the stock market’s lofty balloon ride during the past couple of months fell because of a few words this week. It only rode up on sweet tweets by Trump about … Continue reading

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The Relentless Road to Recession Continued

The Great Recession Consider this a travelogue in pictures (graphs and charts really) that presents a rather striking and comprehensive image of a nation journeying into recession. Our decline is steeper now than it was even in my retelling of … Continue reading

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Repocalypse: The Little Crisis that Roared

The Great Recession That didn’t take long. I just published an article showing how the Fed had responded with a quarter of a trillion dollars to save the economy from what it claimed was a mere blip. Since then, the … Continue reading

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Caterpillar Keeps Climbing Even on a Downgrade

The Great Recession This Cat apparently does have nine lives, and it’s already used seven of them. After six consecutive quarters in which Caterpillar’s earnings failed to meet plummeting expectations, Cat’s stock started to die each time then took a … Continue reading

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The Big Squeeze on Banks is Back and Badder than Ever!

The Great Recession It’s no longer just me using terms like “Armageddon, crisis, devastating, chaos, Great Depression;” it’s leaders of the world’s most august and conservative central banks! The big banking squeeze that began in September never went away. In … Continue reading

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Housing Falls

The Great Recession The leaves are turning quickly now, and so is housing … down … like autumn’s leaves. Earlier this month, I wrote of how housing sales had started to float upward against my call for a long housing decline … Continue reading

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Quick Recap of the Fed’s Foundering Follies and Our Descent into Economic Madness

The Great Recession As September rolled into October, the US central bank’s monetary madness blew all over us like a fountain of foam in a windstorm. First, the Fed burst into $75 billion in overnight funding operations due to obvious … Continue reading

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QE4ever Arrives in One Quantifiable Quantum Leap!

The Great Recession It’s QE4ever, Baby! The Fed’s latest move back into quantitative easing took a quantum leap in a single day with last week’s rush announcement of major permanent money injections to begin this Tuesday. Since the Fed adamantly … Continue reading

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The Beginning of the End: Great Recession 2.0 is Obscured but Here!

The Great Recession The Great Recession never ended. I say that because the deep economic flaws that caused it were never corrected. All recovery efforts since merely clouded our eyes to the problems growing larger around us, even making them … Continue reading

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Sailing Through a Global Storm Without Enough Hot Air

The Great Recession As noted in my last article, “Fed Loses Control of its Benchmark Interest,” bank liquidity strains are written all over this month’s troubles. Some may find that hard to believe because there is so much hot air … Continue reading

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Fed Loses Control of its Benchmark Interest: Repo Rates through the Roof!

The Great Recession Well, that didn’t take long! Four days ago, I stated the following in an article titled “Why are Bonds Going for Broke?“: Central banks are losing control, and are admitting they don’t even understand what is happening.  

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Why are Bonds Going for Broke?

The Great Recession One argument for last week’s extraordinary plunge in bond prices, which I explored as something that might happen this time of year in one of my earlier Premium Posts, was that bond prices could get crushed by … Continue reading

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Central Bankers Now Plotting Government Subversion?

The Great Recession Two weeks ago a former Federal Reserve board member and bank president, William Dudley, wrote an editorial that encouraged the Fed use its powers to defeat Donald Trump’s second bid for the US presidency. I don’t recall … Continue reading

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Oh God, and I Don’t Mean Trump; I mean GOD help us!

The Great Recession It’s out of control. And I’m not even talking about the stock market, which fell off a cliff. I’m talking about the president who has deified himself. I hesitate to write strongly against Trump because I understand … Continue reading

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