Archive for May, 2015

A 2015 US Recession is Now on the Table

Posted May 29, 2015 By David Haggith

Today, the question on the table changed from “Will there be a US recession in 2015?” to “Is the US in recession?” I’ve stated in this blog that the first quarter’s growth in GDP would likely be revised down to a recessionary number. That happened today. The US government and most economists define a recession […]

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Balts Should Pay for Baltimore Riots!

Posted May 28, 2015 By David Haggith

The City of Baltimore wants the federal government to pay for the Baltimore riots, which it estimates to have cost the city $20 million. And the state of Maryland is begging to have Baltimore declared a disaster zone in a disaster entirely of its own making in order to qualify for government handouts. Such is the climax of our bailout […]

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Banksters Admit Guilt to Bank Crimes, Get Away With Murder!

Posted May 27, 2015 By David Haggith
By Lucian.amarii (Jup) [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

Never in the history of mankind have so few stolen so much from so many and gotten away with it Scott free.  Five major banks pled guilty to criminal manipulation of foreign currency exchange rates. Banksters at Citigroup, JPMorgan Chase, Barclays, Royal Bank of Scotland and Swiss giant UBS all used online chat rooms to rig prices.

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YOU WORRY ME! An Open Letter to All Muslim Americans

Posted May 26, 2015 By David Haggith

The following letter to all Muslim Americans is attributed to Captain John Maniscalco, an American Airlines Pilot, though its real origins remain murky. I’m republishing it here because it speaks my thoughts in an unprejudiced way better than I’ve ever said them myself:

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Cashless Society Has Arrived, and It’s Global

Posted May 23, 2015 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

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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U.S. Housing Market Nearing Its Great Recession Crash Point

Posted May 5, 2015 By David Haggith

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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Truth Begins to Dawn: No Recovery in Our Economic Recovery

Posted May 5, 2015 By David Haggith

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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