Cashless Society Has Arrived, and It’s Global

Posted May 23, 2015 By David Haggith

Half a century ago I remember my mother, as she rolled dough on the kitchen table, listening to radio preachers who predicted that the entire would become a cashless society based on a biblical prophecy in the Book of Revelation. Those preachers are now dead, as is my mother, but their predictions are coming to […]

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Chinese stocks crash in major sell-off. U.S. Next?

Posted May 21, 2015 By David Haggith

I’ve been betting Chinese stocks crash soon because China’s stock market looked perilously high with a debt overhang that could break lose at any time. I’ve been saying the same about the U.S. stock market. A crash has been imminent for both, and now it may be starting in China. To be sure, it is not yet a […]

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Who You Gonna Trust? Goldman Sachs or Me?

Posted May 20, 2015 By David Haggith

In November 2014, Goldman Sachs predicted that 2015 would see a 3.1% rise in GDP by the end of the year. They maintained that we would see “accelerated growth” because “We have arrived at a pretty strong recovery.” They prognosticated that home building still had “quite a bit of upside.” (Goldman Sachs) For U.S. stocks, they predicted they […]

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What are the current economic headwinds?

Posted May 19, 2015 By David Haggith

A cold reality has been blowing into the U.S. since last winter, and it has nothing to do with snow. During a balmy spring one year ago when people were feeling cozy about economic recovery, I said that economic headwinds would build over the summer until they dominated the economy by fall, ending all hopes of recovery.   […]

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Why are wages stagnant?

Posted May 14, 2015 By David Haggith

For some, it’s hard to see why wages have been stagnant because the answer is politically incorrect. When people don’t like a politically incorrect answer, they suppose the real answer must be something more complicated than the obvious, even though they can’t come up with a stronger answer. I’ve reported on the reason for stagnant wages in the past, […]

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Crude Oil Price Predictions Right on Track

Posted May 11, 2015 By David Haggith

So far, my crude oil price predictions are right on track. I predicted on January 1, 2015, that the price of oil would not sink much longer and that the price would rise in the second quarter to find its equilibrium somewhere between $60 per barrel and $80. The following crude oil price chart shows the price in January […]

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Here’s a scary chart. Over the past three years, U.S. housing prices have risen as quickly as they did when the Federal Reserve was fueling the housing bubble with cheap and easy credit. That blew up in a housing market collapse in 2007-2009. Prices are also nearing the same peak price as their earlier crash […]

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The crack of dawn that would shine through economic denial has taken longer to come than I thought when I prognosticated that turbulence would begin last fall, which I said would cause people to realize there has been no recovery in our “economic recovery.” But here we are.   Citigroup now agrees: no recovery in our “economic recovery”   […]

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What a Property Manager job description REALLY means

Posted April 24, 2015 By David Haggith

The following is a job description for a property manager position found in a real job announcement (association name changed to protect those who are not actually innocent). Based on my experience, here is what job descriptions like this actually mean [brackets are my helpful, guiding comments]. Property Manager Job Description for General Manager Our General Manager leads […]

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Stock Market Crash 2015 Will Arrive in Time for 2014

Posted April 3, 2015 By David Haggith

Granted, I bet my blog that the U.S. stock market would crash in the fall of 2014. So, on what basis can I say the crash of 2014 is happening right on schedule in 2015? And why am I still writing?   The great stock market crash of 2014 that didn’t happen … yet   […]

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There is one reason I’m posting again on my blog and that is that the Federal Reserve lied. The long-promised end of quantitative easing by the Fed last fall never happened, and, strangely, no one has called the Fed on that. I cry foul.   It was the end of quantitative easing in 2014 … not! […]

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2015 Economic Predictions

Posted January 1, 2015 By David Haggith

I start the year by ending my blog in fulfillment of my bet, so this will be my last post, even as I lay out my 2015 economic predictions, which I think will be my best to date. Last year, I predicted that the economy would become particularly volatile in the fall — especially the U.S. stock […]

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An Economic Vision for Real, Sustainable Recovery

Posted December 24, 2014 By David Haggith

My economic vision for a sustainable economic recovery is easy to understand, easy to believe in and almost impossible to enact politically. I’ve laid it out in bullet points throughout the article below:   Banks that failed would be allowed to fail, so the bad stuff dies and decays back into the fetid earth, and the evil and greedy are […]

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This article is meant to be a kick in the ribs to a sleeping America. So, I hope you don’t like it. I hope it annoys you and jars you awake. Six years of economic struggle, and America has learned nothing from the Great Recession. Congress just passed a bill that assures cash-bloated banksters that the […]

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