The Second Dip of the Great Recession is Coming Soon

Posted October 1, 2014 By David Haggith

When you look at numerous key sectors of the economy, the composite image is one rickety skeleton. Here is a list in bullet points of economic bellwethers that, when viewed altogether, indicate the next dip of the Great Recession is likely near and severe:   “There are more obvious light switches today or ticking time bombs” than in […]

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While the market looks good on the surface, nearly half of Nasdaq Composite stocks are down 20% from a year ago, meaning they are all deeply mired in a bear market. The Nasdaq is made up largely of high-tech stocks, which is where market vulnerability showed up in the last crash of a speculative stock market. Bloomberg […]

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World Bank warns of global job crisis

Posted September 11, 2014 By David Haggith

Current projections are dim. Challenging times loom large…. There’s little doubt there is a global jobs crisis,” said the World Bank’s senior director for jobs. “Disturbingly, we’re also seeing wage and income inequality widening.” (Yahoo News)   The World Bank’s report, compiled by the International Labour Organisation (ILO), also stated that, despite a modest economic recovery in […]

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Great Recession job loss continues as predicted here

Posted September 9, 2014 By David Haggith

This is a drum I’m going to beat for awhile: People need to stop listening to economists who are fixated on statistics like Gross Domestic Product or job gains as an indicator of where the economy is going. People need, instead, to read this blog if they want to know where the global economy is going. […]

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Japan’s economy sinks faster

Posted September 8, 2014 By David Haggith

My Economic Forecast for 2014 tracks solidly on target, event after event. Japan’s economy experienced a massive contraction in the second quarter according to revised figures that are worse than former dismal estimates. In my “Economic Forecast 2014,” I wrote: On the other side of the storm brewing in the China Sea stands Japan, whose economy is faltering again. Abenomics (the ultimate […]

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Will there be a 2014 stock market crash?

Posted September 3, 2014 By David Haggith

I’m not going to go so far as to say there will be a 2014 stock market crash this fall, but there are some concerning forces building up to where I can lay out an argument for the risk in simple bullet points. I think anyone will see from these that no serious lessons have been learned fro […]

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The Great Recession Rages on in Spite of Job Growth

Posted August 13, 2014 By David Haggith

The Great Recession is leaving deep scars on the economy in spite of 4% annualized economic growth last quarter. Job growth continues to be anemic at best while the damage to American workers remains deep.   Job growth barely positive, while earnings are sharply negative   Jobs growth in the U.S. since the 2008 recession has been undermined […]

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President Obama is waving the white flag of amnesty for illegal immigrants taking jobs from U.S. workers. He deliberately entices cheap labor into the U.S. by promising that a path to citizenship will be coming soon. He waves that flag high enough to be certain that willing takers from countries south of the U.S. border will see it. […]

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Russia and China started backing out of U.S. bonds as a from of reserve currency shortly after the Great Recession began. This year I predicted that the conflict between the U.S. and Russia over Crimea would lead to Russia taking a much more aggressive role in offloading the dollar as the world’s reserve currency. The Crimean conflict would become significant […]

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The following writer says it very well: Western reactions are trivial. Immediately, Washington and the European Union announced sanctions: freezing bank accounts and denying visas for a handful of senior Russian and Crimean leaders….. Battered by feathers and pounded by marshmellows, the afflicted Russians professed vast amusement. Who would have been stupid enough to leave […]

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Fukushima Fallout – Follow the money!

Posted March 21, 2014 By David Haggith

On the same day that news stories broke about Fukushima fallout finally finding the shores of Vancouver, Canada, another story appeared from the other side of the ocean, stating that TEPCO has suspended all treatment of its radioactive water. This is the water that is used for cooling the nuclear reactors that could never melt […]

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My “Economic Forecast 2014″ starts with Russia. The first breezes of coming turbulence are already blowing in on the U.S. as a storm I’ll name “the Russian Rampage” hits Crimea and Russia braces for the the U.S. response. Foreign-owned U.S. bonds held in custody of the Federal Reserve took their largest drop on record last […]

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Ireland Leads Way to First Cashless Society

Posted March 10, 2014 By David Haggith

The Central Bank of Ireland is launching a €1 million campaign to create a cashless society in Ireland. The Central Bank on Dublin’s Dame Street is hoping to persuade all of the Irish to surrender their cash forever, and they’re using the current Irish economic troubles as a ripe opportunity to turn that corner on cash. […]

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We’ve spent an unprecedented fortune trying to rebuild out of the rubble of The Great Recession; yet, we are building by the same architecture that caused our economic structure to collapse in the first place. We all recall how the buzz phrase of the Great Recession was “too big to fail.” The lynchpin that triggered […]

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