David Haggith
Market Commentator & Financial Writer
David Haggith publishes The Daily Doom and writes satire. The Daily Doom contains economic, social, and political news about our troubled times--a non partisan weekday collection of the most consequential stories about our complex times with insightful editorials and weekly economic analysis. As an equal-opportunity critic of America's sharply divided, two-ring political circus, David divides his satire into sister publications so you can pick the one you find agreeable and ignore her sassy sister.
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David Haggith Articles
The bottom line is we need to pay for everything as we go and stop deficit spending, and there are only two avenues for doing that—raising tax revenues and lowering expenses. The closest we came was during the Clinton years when Bill...
According to Bidenomics, it’s new construction everywhere and robust consumers. Yet, today, as the tech sector in US stocks saw shares slammed down around 4%, NVIDIA, which so many stock promoters said could not see a collapse like the dot...
Economist David Rosenberg, who predicted the 2008 financial collapse, said that the 818,000 adjustment in new jobs that I wrote about here on The Daily Doom signify an economy that is in a worse meltdown than the Fed realizes.
You may beat the inflation rate back down, but all future inflation happens from the new higher benchmark of prices that never fall back down, and central banks never stop trying to push them up.
The Fed can easily be made to work but nobody apparently wants it to, or we’d change it. This rose bush puts out only flowers that only stink and wither, but it has thorns the size of your fingers that cling to your pockets and tear at...
What sunk stocks today? The first thing to cause the slide in stocks was data that expanded on yesterday’s poor jobs data, which had shown a decline in new jobs. Today, we see a corresponding rise in unemployment.
The stock market continued its dump on Friday, and the two-year Treasury yield saw its largest rise in nearly two months. All indices participated in the continuing slump, which has become more than just a rollover from high-tech growth...
Everyone has been talking, of course, about the attempted assassination of Donald Trump all day, and I don’t think I can add anything to all of that; so, I’ve just run a lot of stories available to everyone today to recap the event and...
Last week, I started speaking of reported “real GDP” verses “real, real GDP” and of reported actual inflation v. “actual, actual inflation.” Today, Wolf Richter has begun to do the same thing with Biden’s Treasury reports of how much they...
Evidence of a severe recession that has already begun continues to build, and the cause is clear. As you can see in the following graph, money supply fell again in October and its “growth” has, during the Fed’s current quantitative...
