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
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...
The big news is, of course, the worst wildfire season in Canadian history. Even though it has only just begun, it is already deeply engulfing major US cities from the Midwest to the Atlantic in an apocalyptic, “blood moon,” painful-to-...
I’ve pointed out in past years how badly cooked the government’s jobs numbers are and how the Bureau of Lying Statistics, as I call it, revises its numbers down by hundreds of thousands in an annual audit just about every year, but mostly...
The Fed is going to tighten an already tight labor market by making sure more of those workers who are already too-few in number are laid off in order to reduce production that was already lower this year than last year in order to lower...
It all goes down in the same heap of rubble — zombie corporations and the junk bonds that are their sole life support and, piled on top, some of the banksters that funded them. Like a zombie apocalypse, it spreads around the world, taking...
Doug Nolan, author of Credit Bubble Bulletin, makes the following observation about how it is the investments and nations that exist on the periphery to the main economic streams that have the most risk and see the first de-risking when...
