Bloomberg reported this week that thirteen US companies (in the 50-million-plus size) filed for bankruptcy last week. That brought the total for the big boys and girls this year to 117, which matches the record peak for the first half of a year set in 2009. The slew of bankruptcies also set a record in […]
Uncategorized Archive
US Bankruptcies Busting Out to Match 2009 Peak Mean Trouble for Stock Market
Posted June 26, 2020 By David HaggithZero Hedge Confirms Fed is Dead
Posted June 21, 2020 By David Haggith
It is always good to have a statement from the coroner when pronouncing death as I did on May 19, 2020. That is when I gave time of death and pronounced “The Fed is Dead.” You especially want the second opinion when you’re talking about Feddie Krueger, who has more extra lives than a cat […]
White House Brawl: Mike Pompeo Calls John Bolton a Traitor and a Liar
Posted June 20, 2020 By David HaggithMike Pompeo used the Department of State’s website to officially call out President Trump’s former National Security Advisor John Bolton as a liar and a traitor. In a brief press statement titled “I was in the room, too,” Pompeo stated emphatically, I’ve not read [Bolton’s] book, but from the excerpts I’ve seen published, John Bolton is […]
Filed in Uncategorized | Tagged: Donald Trump
Robinhood & Its Band of Traders Not So Merry as Stock Market Turns Volatile
Posted June 19, 2020 By David Haggith
Robinhood retail investors believed the fairy tale of a V-shaped recovery, but Father Fed just told them that will never happen. Robinhood even had Goldman Sachs whining about its hedge fund basket not keeping up. Hope of a V-shaped recovery due to COVID-19 helped Robinhood take from Goldman’s sacks of gold, but failure of that […]
Filed in Uncategorized | Tagged: The Federal Reserve
To “V” or Not to “V”? That is the question.
Posted June 18, 2020 By David Haggith
Whether it is more likely for the economy to recover in a V-shaped pattern or not, the stock market did. Now it is struggling everyday to hold the pattern as it keeps trying to refasten on news of a V-shaped recovery but gets beaten down by news of COVID-19 threatening the recovery:
Filed in Uncategorized
Lying, Deadbeat Fed Fathers Starving Children but Feeds His Fat Favorites
Posted June 17, 2020 By David Haggith
When asked by the press if the Fed was concerned about how it has increased wealth disparity in the US with its policies, Papa Powell kept clearing his throat and parading his lamest thoughts. “Inequality is not related to monetary policy,” he claimed in the Fed’s defense. Powell did not answer the question directly but […]
Stupid is as Stupid Does!
Posted June 12, 2020 By David Haggith
There is no easy way to say it, except to get it out of the way. My stock trade that I divulged as a matter of disclosure at the start of the week was probably the stupidest move I’ve made since starting this blog. I failed to follow my own advice.
Filed in Uncategorized
The Jobs Report Misunderstanding in a Nutshell: NO V-Shaped Recovery in Sight
Posted June 10, 2020 By David Haggith
The first graph gives you a glimpse of the “huge jobs rebound” that shocked the stock market into spurting past its 200 DMA barriers because retail investors and algos aren’t looking past the headlines. The second graph below shows you what a tiny difference that made to the total number of jobs that were lost:
Filed in Economic Predictions, Uncategorized | Tagged: economic collapse, economic predictions, stock market, unemployment
I Believe in the Stupidity of the Stock Market
Posted June 8, 2020 By David Haggith
I believe in it in the sense that I believe it will stupidly become even stupider for a short time. So, I’m putting money back into stocks in order to bet on stupid, not because I believe in a phantom V-shaped recovery, but because I constantly hear plenty of people do believe in the “V.”
George Floyd Protests and Riots in NYC, DC and Everywhere Bring Nation to Brink of Civil War
Posted June 7, 2020 By David Haggith
As US troops surround the Lincoln Memorial to protect it from vandals, one is reminded of the Civil War, over which this guarded stone president once presided. Those desecrating US memorials to leaders who helped Blacks in American society may be nothing more than rioting opportunists during the George Floyd protests. They may have nothing […]
Video Proof George Floyd Wrongfully Executed by Police and Not Resisting Arrest
Posted June 6, 2020 By David Haggith
Even the police are breaking the longstanding blue wall of silence. Because of one vigilant citizen, these cops may go to prison: I hope they do. I find it heartbreaking to see people so hated because of their color that officials can kill them in broad daylight as if they are just a bug on […]
Filed in Uncategorized
The Walking Fed Creates a Zombie Horde
Posted May 28, 2020 By David Haggith![Zombie economists bring on US 2016 recession. (Photo by Charlie Llewellin (Flickr: Occupy Austin) [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons)](https://thegreatrecession.info/blog/wp-content/uploads/Zombie-Epocalypse-Brains-Needed-100x150.jpg)
In the The Walking Dead a virus creates a zombie apocalypse on earth. In reality, the Federal Reserve is working with a global virus to create a plague of zombie companies that do not produce revenue capable of sustaining themselves. By definition, they cannot even pay the interest on their bloating debt.
Filed in Uncategorized | Tagged: The Federal Reserve
Bank of America is Wrong: We’ve All Become Preppers Now
Posted May 25, 2020 By David Haggith
Bank of America says it is dangerous to ignore the stock market, but a longer tradition says the bond market is the wiser of the two, and it is dangerous to ignore the bond market. Bank of America dreams corporate cash could roll into stocks.
The Fed is Dead!
Posted May 19, 2020 By David Haggith
The last few months reveal how dramatic failure of the Fed looks now that it has hit the wall of diminishing returns. I’ve warned for years that the next recession would look just like what we are now seeing. I’ll show below why this graph shows in stark numeric terms just how bad it is.
