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The Great Melt-up Melt Down

Posted February 27, 2020 By David Haggith

That didn’t take long. Just a month ago, I wrote, “Stock Market More Overpriced and Perilous Than Anytime in History,” stating that the market was poised for a big fall because “some of the market’s most fundamental valuation metrics are now printing at levels never seen before…. This market is tripping on some pricy hallucinogens.” […]

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It is the senseless things of this world that sometimes knock sense into the high and mighty whose hubris causes them to believe they cannot fall. In this case, the tiny COVID-19 virus (coronavirus) is bringing down a global house of cards long perched to fall — locks, stocks, and barrels of oil.

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Mers coronavirus. National Institute of Allergy and Infectious Diseases (NIAID), National Institutes of Health (NIH) / Public domain

The public is always ready to panic over the next pandemic. We love a good movie like the old Ebola scare, Outbreak. We even have a name for the next mystery disease — the big one that is supposed to destroy us all like World War III or like the apocalypse — a scientific name. […]

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The Glub, Glub, Glub of Recession Circling the Drain

Posted February 21, 2020 By David Haggith
How's that swamp drainage project going?

Who says there is no recession anywhere in sight? It depends on where you are looking. In short, manufacturing remains in recession; corporate profits remain in recession; freight remains deep in recession; Carmageddon remains in recession; and the Retail Apocalypse remains a recession for brick-and-mortar stores, while employment — the last holdout — is now […]

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Employment has been the one stickler in my recession prediction for 2019, and finding a trustworthy measurement from the government’s statistics is like finding a virgin in a brothel. Depending on which official figures you look at, employment has refused to fall and new jobs are strong … or they stink.

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During its brief and utterly failed attempt to reduce its balance sheet (called quantitative tightening), the Federal Reserve only rolled off securities at a rate of $50 billion a month. It is now purchasing US treasuries at a rate of more than $55 billion a month:

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The Big Reveal

Posted January 26, 2020 By David Haggith
Central banks are cause of inverted yield curve recessions

My last Patron Post pulls together a couple of major revelations by piecing together a report from the Bank for International Settlements, a couple of fascinating exposès by Zero Hedge, and a recent document from the Federal Reserve Bank of New York to reveal the actual close call with catastrophic failure that lay deep at […]

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Protected: Fed Fights Catastrophic Financial Collapse

Posted January 22, 2020 By David Haggith
The 2018-2-19 Housing Market Crash 2.0 is just getting started.

There is no excerpt because this is a protected post.

           
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Gathering around the stock ticker during the 1929 stock market crash.

I’m not going to predict when and how the US stock market will crash as I did by laying out the stages of its fall for 2018. That was easy, but the times are different now. Back then, the Fed had laid out a precise schedule for its tightening, and it was apparent to me […]

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Lunatic Larry Promises Trump Candyland for Election Year

Posted January 17, 2020 By David Haggith
Larry Kudlow by Gage Skidmore [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

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 process of Tax Cuts 2.0. We’re many months away – it’ll come out sometime later during the campaign,” […]

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The Tick, Tick, Talk of Recession Drones On

Posted January 2, 2020 By David Haggith
Édouard Riou [Public domain], via Wikimedia Commons

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 the past year, as I expect it will be. For now, we have to keep looking at numerous […]

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Protected: DIGITAL CURRENCY: Cashless Conclusion

Posted December 31, 2019 By David Haggith
By Vmenkov (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons

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

Posted December 29, 2019 By David Haggith
Trump tax plan trumps the middle class

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 stroll down memory lane in pictures.

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Dr. Fed Frankenstein Kept Alive by Zombies

Posted December 27, 2019 By David Haggith
Zombie economists create US 20116 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 realize that they are also keeping alive the diabolical doctor who made the monster that is eating them.

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