David Haggith

David Haggith

The Great Recession Blog

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When you're walking along the sidewalk and someone is playing the sax in a way you love, you drop a dollar in his tip jar. Sure, there will be others who will tip him, so you don't need to, but you do it anyway, just to say "Thanks." There are no special benefits at this level outside of knowing you have expressed your sincere appreciation and are someone who doesn't just endlessly receive for free. And for that, I appreciate you.

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A mocha for me.

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When you pass by that sax player you enjoy every day on your way to lunch and you want to preserve the likelihood that he keeps coming in the future, you drop $5 in his jar once in awhile. You get that smile that comes to your face and his when you pass by the next morning and he's holding a cup of coffee that was on you. Most of all, he's still there; and you are why everyone still gets to hear the music. Since you have become a serious patron, doing more than expressing your thanks, you'll be granted access to special "Patron Post" articles that I publish here on Patreon ABOUT once a month just for my serious supporters. These are my most important articles, such as the first ones to lay out economic predictions or to explain what the Federal Reserve will be up to next. But really what you are supporting is ALL my writing on economics. None of it would happen without some serious support.

You're taking me out for breakfast

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Now you're more than a serious supporter; you're an enthusiast, and we share a love for the same music. So, we're going to sit down and have coffee and a breakfast sandwich together to talk about the music. In other words, in addition to access to Patron Posts, as described in Tier 2, I'll give you my personal email address so we can have one-to-one conversations from time to time, as you wish. I know that doesn't amount to anything as an enticement, but the main reward is not in what you are getting as a token of my appreciation but in how much you're helping put the message out to other people who most need to hear it. You're taking a big step in making it happen at this level. I couldn't do it without some particularly strong donors.

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About David Haggith

Beat the Establishment Before it Beats You ... Again.

We are about to see the same financial crisis happen to us all over again because the entire world learned nothing from the collapse that we now call "The Great Recession," and we built up much bigger bubbles after the Covidcrash. Now we are blowing them all over again in what I call the Apocollapse.

My goal in writing The Great Recession Blog has been to help people see what we did wrong in order to avoid repeating it and to keep a spotlight on the Federal Reserve's failures and bankster bailouts. I felt driven to write the blog because I saw a massive housing bust coming in late 2007, but real-estate agents I talked to back then thought I was nuts. I was surprised that no one appeared to see it coming even when I explained to them why the real-estate crash would bring down global banks and devastate the entire global economy. People thought such a thing was ridiculous because it seemed too full of doom and gloom, and people don't see the things they don't want to see.

When the Covidcrisis was created in 2020 by our governments around the world locking down their economies and central banks, including the Fed, bailed out banks and business all over again to the tune of trillions of dollars and this time, with the help of the federal government stuffed money created out of thin air into every consumers pocket, I warned we would finally have massive inflation that would force the Fed to tighten sooner than anyone expected and then to tighten harder. I had never said that in all my years of writing about economics. I said we'd enter a recession at the start of 2022 and that we'd find that many of the laborers who left the work force would not ever come back. All of that happened, as GDP went negative in the first quarter and second of 2022, but the Fed and government did not believe we entered a recession because "the labor market was strong." I explained through 2022 why the labor market was an illusion and a hugely misleading blind spot. ("Everyone Sings the “Strong Labor Market” Tune in Unison as the Band Plays on, and They’re All DEAD Wrong!")

I started writing The Great Recession Blog in 2012 because I heard all the mainstream financial writers and television's talking heads tell everyone that the Fed's absurd recovery plan of solving a debt crisis by pumping up massively greater debt was something we simply had to do. Rather than actually solving the underlying problems that allowed economic catastrophe to befall the entire world, we just kicked the can down the road. We essentially did it even worse in 2020,

We sent no one to jail. We did not reduce the size of institutions that endanger society because they are "too big to fail." Instead, the Fed made them even bigger by forcing the failing ones to be bought up by the surviving ones. Our bailouts of the rich inspired further moral hazard. We piled up mountains more in debt and expanded our money supply to the moon to lay in the groundwork for high inflation and created bubbles in everything -- even another massive housing bubble. These are now crashing all around us.


My track record of reliable information:

Along this path of fake recoveries, I have predicted the major setbacks the economy would take months in advance base on the Fed's stated plans and government actions:

  • The United States' first-ever credit downgrade during the Obama Administration due to political brinksmanship over the national debt.
  • A break in the bull market in late 2014 due to the Fed's taper that left the market churning sideways for two years.
  • A terrible year for stocks in 2018 because of the Fed withdrawing so much of the money it had created, which would start with a bad plunge in January and end with the market crashing into a bear market in the final quarter of 2018.
  • The massive repo crisis (loans between banks) in the second half of 2019.
  • The stock market's plunge again in early 2020 as it did in late February.
  • The supply chains troubles coupled with the Fed's huge money printing and the breakdown in labor-force participation resulting in extremely high inflation by 2021. 
  • That the Fed was entirely wrong throughout 2021 about inflation being transitory, which would result in it waiting too long to tighten, sending inflation out of control.
  • The fact that the Fed's mistake abut inflation being transitory would force the Fed to tighten sooner than expected and then to increase the pace of tapering that it first laid out.
  • That bond yields would start to rise as soon as the Fed got serious about tapering, even before it started quantitative tightening where it reduces the foundations of money supply.
  • The crash of stocks all year in 2022 that would begin with the Fed's tapering (even before actual tightening) and the rising of bond yields.
  • The start of recession at the end of 2021 that I said would go unrecognized by just about anyone until we were deep into it in 2022.

All of that happened, and the predictions remain in print on my website, dated for when they were made, often with dated Disqus comments about them by others where I have no control over the date that shows. So the record is there to back up the claims above.

These times of turmoil were predictable because the Federal Reserve gave "forward guidance" to everyone about its schedule for withdrawing its recovery efforts, and the cause and effect is clear if you just think through it logically and economically. With each promised change in the Fed's life support, I laid out how the dependent economy would degrade at that point. The failure of the Fed's recoveries to sustain themselves each time as the Fed removed life support has never surprised me at all.

The establishment's plans are now breaking the global economy ... again. We are now about to enter the Great Recession 2.0 or even the Second Great Depression or the Apocollapse -- depending on what we eventually choose to name it -- and name it we will because it will be that kind of calamity that demands a name. This one is going to be especially rough all over the world because we've reached the end of that road John Boehner kept saying we were kicking the can down, and it's a dead end.

We didn't make the huge changes required to build a stable and honest economy, and we added worse problems of our own making, plus face problems from a global drought, so we are about to repeat the crash all over again. That's why I also wrote the little collection of my early writings: DOWNTIME: Why We Fail to Recover from Rinse and Repeat Recession Cycles.


My request:

I am asking you to help me expand awareness as to why we keep rinsing and repeating these cycles of failures in bigger and bigger doom loops, as seen in the dot-com crash, the Great Recession, the Covidcrisis, and in what is now developing all around us as the big re-opening from Covid now collapses into the global void of the Apocollapse. With the support of patrons, I  wrote the above book about it as well as kept my website going, and with additional support I'll keep dogging the corruption and greed on The Great Recession Blog and all the other 50 websites my articles go out to for free and hope to even build a "new and improved" website. I also create a weekday daily aggregate of news from all over the world about this great collapse, which is titled The Daily Doom. You will be helping to support all of that.

To my great respect and admiration, readers of The Great Recession Blog rose to my call for support years ago and quickly reached my initial goal of $500 a month. That wasn't enough to keep at it full-time, but it said there is genuine interest; so I cut back my career to part-time work and stayed at the writing. It's about the mission. Now, I'm hoping to take support toward a goal that will enable me to give this mission my full-time attention in both my writings and public speaking -- $4,000 a month. I pretty much always do, but cannot sustain that effort off of savings for long.

Someone outside of the mainstream media needs to force our fundamental economic flaws into the light with strong, rational arguments and persuasive writing because it serves those establishment banksters best to keep repeating the cycle! 

Who do you think keeps their money when the entire economy crashes while taxpayers back their failed enterprises? Who got bigger bonuses when their corporations failed? Who got to keep all the real-estate when foreclosures went crazy? Who got virtual vaults of free make-believe money from the Fed stuffed directly into their reserve bank accounts? Who is in the one percent that became VASTLY richer during the recovery efforts from the Great Recession while everyone else stagnated or declined? It probably wasn't you.

We saw all of that happen in 2008 and again in 2020, and now we're about to see it happen again, and it will keep happening until massive numbers of people rise up to make such a loud noise against it that politicians don't dare go that route any longer. I ask for your support to apply as much skill and time to that as I can.

Who do you see cheerleading that effort?

CNN? Fox? The New York Times? Bloomberg? Fortune? The Washington Post? The Wall Street Journal? Of course not. They all love Wall Street, and they are enamored by credentials and celebrity! That means it is impossible for me to get my articles to run in those paying publications. My articles run on a lot of alternative media sites, but none of those sites pay a dime for my writing. So, without financial supporters at a grassroots level, these articles will eventually have to stop as my savings run out. It takes the committed company of others to move a nation. It takes teamwork, and I hope you'll join by supporting my effort to keep the light of laser-like truth shining into this mess.

If you don't want to go through another fake recovery that leaves you poorer (because the set-up is starting to happen right now), then I need $4,000 a month in support. I'm still charitably giving my own time to this topic and living off my savings in part solely because I believe passionately in the importance of this message, but I've been doing that for a year and cannot continue to supplement the patronage from my diminishing savings.

For years, I made my living as a five-star resort property manager, making a lot more than $4,000 a month, but this is worth more than that income to me. So, I am just looking for a basic level of income and have downscaled by moving to a smaller property that what my wife and I had so that I have more time to write and a smaller mortgage.

Now is the only time we have to beat the establishment as the economy again sinks into a deep and prolonged recession, and you know the rich will be first in line for bailouts. I hope you'll join me, and I also need you to help share this fundraiser if we're going to reach these goals. I could also use some technical IT assistance from anyone with those skills to volunteer.

If you haven't read my articles, you can find them at http://thegreatrecession.info/blog  

You can also find my one book on the topic here: 
https://www.amazon.com/dp/B086MB7WS9 .

You can also subscribe to get The Daily Doom delivered in your email here ... at least for as long as it lasts:
https://thedailydoom.substack.com/

Goals
$687.15 of $4,000 per month
Thank you to everyone who helped me reach my initial minimum goal of $500 a month! I wasn't sure that kind of support was even out there, and I'm grateful to find out that it is. I don't take it lightly.

My bigger goal describe here is to reach a level of support that will enable me to stay at this full-time, working on nothing but beating the establishment with articles and public speaking that keep a spotlight on the greed, corruption and Fed errors that perpetuate our economic weakness. In the very least, the closer I get to that livable amount, the more time I can devote to this.

Thank you to those who have enjoined the battle and taken up the journey so far. I hope more will jump in to empower this pursuit to a higher level!

--David
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By becoming a patron, you'll instantly unlock access to 59 exclusive posts
59
Writings

Recent posts by David Haggith