Archive for May, 2022

Thirteen Major Fails: a Quick Rundown of our Rundown Economy

Posted May 23, 2022 By David Haggith

During the Roaring Twenties would anyone have believed you if you told them about the depression and the dust-bowl years that were soon to come? Would they have believed their celebratory excesses during such a “strong economy” could possibly leave them collapsing into the dustbin of history that followed?

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This Economy is Ugly in its Bones – Part 3

Posted May 22, 2022 By David Haggith
2019 recession coming - dust bowl photo

Suffering inflationary heat stroke While we all hope the inflation rate won’t rise further, an inflation rate that stagnates right where it is today is like the sun hitting its zenith at noon. The sun may not get hotter as it now slowly slides lower in the sky, but it keeps baking the earth around […]

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Are You Sure We’re Not Sinking into Recession Already? Or has this ship already sunk?

Posted May 19, 2022 By David Haggith
By Tairo Bonilla (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

I still beg to differ with those who say the plunge from a positive 6.9% GDP growth rate in the last quarter of 2021 to minus 1.4% in the first quarter of 2022 is just noise. “It’s just a passing anomaly,” they say. On the contrary, I am certain the anomaly was the 6.9% reported […]

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The Fed is Still Spiking the Inflation Punch Bowl, but the Party is in Recess Anyway

Posted May 17, 2022 By David Haggith
William Hogarth, CC BY 4.0 , via Wikimedia Commons

Sizzling inflation is not going away as drunken market revelers are hoping. This party bore, in fact, will be long outstaying her welcome. While the Fed once said it wanted some hot inflation on the scene, she arrived a lot hotter and has stayed a lot longer than Father Fed expected — now kind of […]

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This Economy is Ugly in its Bones – Part 2

Posted May 13, 2022 By David Haggith
hedge fund hedge hog (Basile Morin / CC BY-SA (https://creativecommons.org/licenses/by-sa/4.0))

Market permabulls die because they act like pigs, obsessed with pushing their way into the trough for any scrap of food that remains. For example, people continue to invest in stocks as they face-plant into the hog’s wallow again and again because they can only think of making money the way they have been used […]

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Why the Fed will fail to fight inflation until the recession beats it down

Posted May 8, 2022 By David Haggith
Farmer in despair over Great Depression in 1932.

You cannot grow a turnip in a pile of dollar bills unless you let them rot first. Depending on the road the Fed takes, that could become the dollar’s highest value and the best the Fed can do to reduce food shortages. Whether the dollar decays depends, in good part, on whether the Fed chooses […]

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This Economy is Ugly in its Bones – Part 1

Posted May 3, 2022 By David Haggith
By William D. Matthew - http://digitallibrary.amnh.org/dspace/bitstream/2246/1464/1/B021a14.pdf, Public Domain, https://commons.wikimedia.org/w/index.php?curid=4332537

They say, “Beauty is only skin deep but ugly goes all the way to the bone.” Well, the last part of that certainly sums up this economy. It’s such a malformed monstrosity, you’ll wish it were extinct; and, at the rate this behemoth is now dying, it soon will be. You’ll have to look for […]

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How Bad Was the Stock Crash for April Fools?

Posted May 1, 2022 By David Haggith
HM Stoops? (the name signed to 2 of the 6 illustrations on the page of the newspaper—they all seem to be from the same hand, despite this particular image is unsigned) [Public domain], via Wikimedia Commons

Well that didn’t take long. When GDP on Thursday morning revealed we are, in fact, crashing into recession, and the market flew like a released bird into the heavens, I noted in my last article that the market’s lunacy was just what I expected from delusional investors. That was a relief rally from the earlier […]

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