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Economic News Archive

Photo of breadlines during the Great Depression

The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said.… “This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges,” said World Bank Group Vice President for […]

CNBC Video

In a dynamite interview, Richard Fisher, former president and CEO of the Federal Reserve Bank of Dallas, gave what may be the biggest confession you’ll ever see and hear from a Federal Reserve insider: the Federal Reserve knowingly “front ran” the US stock market recovery (i.e., manipulated the market) and created a huge asset bubble. Fisher […]

China’s & Russia’s Currency War on the Dollar

Posted September 2, 2015 By David Haggith
Plane made of burning dollar bills symbolizes price inflation and the Fed moving to digital currency

About a year ago, I said the Chinese economy would not crash, but that it would come in for a controlled landing as Beijing sought to lower it to a target of 7% growth — still excellent growth. So, there’s one I appear to have gotten wrong, given that China is starting to look like a train wreck. At […]

Illegal Immigrants Outnumber Unemployed Americans

Posted July 29, 2015 By David Haggith
immigration economics has a huge cultural cost

The number of illegal immigrants in the United States totaled 11.3 million in 2014, outnumbering the 9.6 million Americans who were unemployed in the same year, according to data from Pew Research Center and the Bureau of Labor Statistics (BLS). “The new unauthorized immigrant total includes people who cross the border illegally as well as […]

Angela Merkel's euro crisis is back ... in 3D

The deal force-fed to Greece by the Germans guarantees Grexit 2015. Look at all that this deal has embedded into its terms, and you’ll see how a Grexit is now assured. This new eurodeal creates all the chemistry necessary for an explosion. Yet, the stock markets rose today because people are excited that, at last, a deal is […]

The Great Global Economic Trainwreck

Posted July 9, 2015 By David Haggith
By Photo credited to the firm Levy & fils by this site. (It is credited to a photographer "Kuhn" by another publisher [1].) (the source was not disclosed by its uploader.) [Public domain], via Wikimedia Commons

Granted, global economic collapse can’t be declared as a fact yet, but train wrecks take time. A train doesn’t just crash like a car; it keeps crashing, piling car upon car, banging, tearing out trees, bending steel, plowing up rails, smashing buildings … until all the momentum is finally exhausted to the last squeak. It didn’t take […]

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 […]

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.   […]

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   […]

Fall shows no recovery in economic recovery in the news

Posted November 26, 2014 By David Haggith

The stock market plunged. Then it seemed to recovery as if the good times would keep rolling, but look at what’s around the corner. Just a few headlines here showing where the economic news is starting to drift:   Orders for Business Equipment Unexpectedly Fall Orders for U.S. business equipment such as machinery and electrical gear […]

Ebola Fear Scares Stock Market

Posted October 15, 2014 By David Haggith

As Franklin Roosevelt said, “All we have to fear is fear itself.” The stock market hangs in such peril that it is the fear of fear that is now driving its surges. The market is afraid that Ebola fear will cause a panicked change in people’s economic activities. The market fears the fear. When the stock market […]

Economic Impact of Ebola Epidemic Could be E-normous

Posted October 8, 2014 By David Haggith

CBS reports that the World Bank has just issued a dire warning that the economic impact of Ebola could be enormous. An institution usually known for carefully weighed economic statements says that the economic impact of Ebola could be “catastrophic” even if the epidemic doesn’t spread beyond Africa. By the end of 2015, the economic impact of […]