The Great Recession Blog

Just a handful of recent bank collapses with the help of Janet Yellen’s recent testimony in congress have spread shockwaves beneath the entire surface of global banking. Several publications are now joining in the harsh criticism I brought against Yellen …

This was one of those days where every news headline that went into The Daily Doom this morning made me say, “Of course it did!” — not in the approving kind of way, but in the way you say it as you roll your eyes because you see that, yes, the bread did land jelly-side-down […]

Does anyone remember way back to when new jobs came in so bad the report shocked everyone by being far below expectations? Stretch your memory because it was all of three days ago that only 106,000 new jobs were created, well below the 190,000 Dow Jones estimate, and even further below the previous month’s upwardly revised 253,000. Yet, now, they’ve exploded to half a million!

We now have solid confirmation that the bear market did not go away and that the rally that began in October was just another typical bear-market rally. Look at the three graphs below to see how perfectly it fits the pattern of all the other bear-market rallies this year, which means we are heading down […]

The Fed is going to tighten an already tight labor market by making sure more of those workers who are already too-few in number are laid off in order to reduce production that was already lower this year than last year in order to lower prices that are too high because of production shortages.

On October 28, I wrote that “GDP Stands for One “GROSS Domestic Pig During Election Season.” I claimed the report for GDP was an outright lie. There is no other way to see it. Since then, I have hoped to see others call the Bureau of Economic Analysis out for its lie, but they have […]

In a “thank-you Jesus” moment for those us us who are sick to death of the arrogance, greed, rigging, gambling, denial and freakin’ insanity of the US stock casino, the market pivotheads got a post-Halloween pounding of their hollow pumpkins into the dust of the earth at the end of today’s trading.

Today, I read an exasperating article on Zero Hedge. You can find it here in order to know what I’m carrying on about below: “10 reasons to be bullish“ I’m not saying that there is no chance of a big rally that becomes the defining characteristic of what happened to stocks on the way to […]

I just came across an internal Fed staff document that shows what a mess their minds are. When you see how seriously they are misunderstanding this economy and the causes of inflation and how they are going to fight that inflation like Don Quixote jousting at windmills, you’ll realize there is no way they find […]

Thursday morning CPI, again, proved what has become my standing narrative for two years — that hot inflation would force the Fed to tighten faster and harder and would kill the economy, the bond market and stocks — when all of the following headlines hit on a single morning (as collected on The Daily Doom): […]

Today the market paid back some of its delusional holdings. It has a lot more left to pay back. You see, the market believed the Fed all of last year when the Fed said inflation was transitory. Or, at least, market leaders sold the Fed’s narrative, accelerating us into a heck of wreck.

Everyone in financial media is singing in unison, and the song they are all singing is a recessional for the recession — a hymn or musical piece sung while making an exit. It’s an attempt to make the recession recede from view, to talk it out of existence, to convince everyone that what is, is […]