David Haggith

is creating The Great Recession Blog

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A dollar in the tip jar

per month
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.

A mocha for me.

per month
When you pass by that sax player you enjoy 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. 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 just for my serious supporters. These are my most important articles, such as the first ones to lay out certain economic predictions or to explain what the Federal Reserve will be up to next.

You're taking me out for breakfast

per month
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. If I produce another ebook, you'll also get access to a free prerelease copy.  The main reward, though, 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.



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 apparently learned nothing from the collapse that we now call "The Great Recession."

My goal in writing The Great Recession Blog has been to help people see what we did wrong in order to avoid repeating it. I felt driven to write the blog because I saw the Great Recession coming in 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 we were about to enter a real-estate crash that would bring down global banks and devastate the entire global economy. People thought such a thing was ridiculous partly because it seemed too big to be true and mostly because people don't see the things they don't want to see.

When the housing market did collapse on as grand a scale as I said would happen, George Bush said he needed to give up his capitalist ideals in order to save capitalism; but it wasn't capitalism he was saving. It was simply capitalists. It turned out our bankers were only capitalists so long as they were rolling in massive profits; but they became socialists overnight when it came to spreading the risks from their losses on everyone else.

As I listened to mainstream television tell everyone everywhere that this absurd recovery effort was something that we simply had to do, I felt compelled to start The Great Recession Blog in order to talk about actually solving the underlying problems that allowed economic catastrophe to befall the entire world in the first place. No one went to jail, and now we're bailing banksters out all over again because they were too weak to survive a viral crisis.

The Federal Reserve and US government actually inflated the size of all our problems. How insane is that? As a result of their ineptitude, the US and global economies were declining due to insidious problems that existed deep below their surface — problems like vaults full of collateral that didn’t actually exist; corporate accounting that had crept for years away from the high standard of days gone by; a cavern of cheap debt carved out beneath corporate earnings that were jacked up by use of that debt; a mountain of unsecured loans and risky bonds that were teetering already on being downgraded to junk; cesspools of corruption that never ended in imprisonment after the last crisis; the largest gulf between the rich and the rest the nation had even known; quarter after quarter of stagnating GDP growth, funding a national deficit that was ballooning at a rate of a trillion dollars every year for as far as the eye could see. 

It was into that decaying, sloppy, insensible world that the virus crashed with the impact of a large meteor. The cracked foundations of civilization’s structures immediately crumbled, and its high towers of commerce toppled faster than its citizens ever thought possible!

My track record of reliable information

Along this path of fake recovery, I have predicted each of the major setbacks the economy took. (My blog stands as a track record to prove it.) I predicted the timing of the United States' first-ever credit downgrade during the Obama Administration and of the stock market plunge caused by the downgrade. I warned that the spine of the bull market would break in late 2014. It did to where market went nowhere all the way until November 2016. The market's troubles only ended when Trump was elected and the Trump Rally began, but I also said during the summer of 2017 the stock market would fall hard in the fourth quarter of 2018 because of the Fed withdrawing so much of the money it had created. It did. I also predicted a massive repo crisis (loans between banks) would hit in the second half of 2018 due to the Fed's economic tightening. It did. And I predicted it would all end in a recession starting in 2019, which I saiid we wouldn't realize we were in until early 2020, that would crash the stock market. We've now seen recession hit and have witnessed the quickest crash into a bear market in stock-market history. It's all recorded on my blog as I predicted it and as it happened, so all of that can be confirmed.

You see, the times of turmoil were predictable because the Federal Reserve gave "forward guidance" to everyone about its schedule for withdrawing its recovery efforts. With each promised change in the Fed's life support, I laid out how the economy would degrade at that point. The failure of the Fed's recovery to sustain itself each time has never failed to prove me right. The Fed's recovery plan was guaranteed to fail because it perpetuated those flaws I laid out above while keeping the economy propped up on artificial life support.

The establishment's plans are now breaking the global economy ... again

We are now about to enter the Second Great Recession or Great Recession 2.0 as the Fed struggles to figure out what it should do now that everyone knows it cannot ever reduce its balance sheet or raise interest rates any higher. It's now spinning more plates than it can keep up on the air because of all the troubles that were allowed to continue beneath the surface. (Remember hearing "kick the can down the road" a lot? Well, we've reached the end of that road.)

We didn't make the huge changes required to build a stable economy, so we are about to repeat the crash all over again bigger and better than ever. I've said the Fed would repeat its old recovery efforts on a grander scale, and they already are!

I hope, as it becomes evident that bankers are  begging for bailouts ... again, that ordinary citizens will start looking for new answers. I hope you'll help me expand awareness as to why we keep ringing and repeating these relentless cycles of failures seen in the dot-com crash, the Great Recession and in what is now forming all around us. With the support of patrons, I've written a book about it and keep following the corruption and greed on my blog.

Here's the deal:

I'm willing to continue bashing the banksters and poking their pocket politicians in the eyes and lampooning the lunacy in the media with your support ... but not without it.

I needed patrons to sustain my efforts, and people have stepped up. To my great respect and admiration, readers of The Great Recession Blog rose to my call for support quickly and reached my initial goal of $500 a month. That matches what I made as kid mowing lawns, so I figured if I couldn't accomplish that, I might as well quit; but it's not about the money. IIt's about the mission, so above that level, I continue for the sake of whoever it helps. 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.

Unless you want to experience an endless rinse-and-repeat of recession cycles, someone outside of the mainstream media needs to force our fundamental economic flaws into 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?

Big banksters get paid obscene bonuses because it takes a special kind of person to be CEO of a major bank these days. Consider: You have to be able to take a titanic institution that has weathered every economic problem for a hundred years and break it in exactly such a way that the government will bail it out with tens of billions of dollars while you convince the citizens of the nation to let that happen. Doing it right assures you and your shareholders end up richer than ever. It takes pure evil genius to pull that off while smiling at the general public as you ensconce your proteges into presidential cabinet positions so you can make sure the nation does it all over again!

We saw all of that happen, and now we're seeing 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. 

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, bringing in another 100,000 readers or more for each article; but none of those sites pay a dime for my writing. So, without financial supporters at a grassroots level, these articles would have stopped happening because I reached my limit of being willing to push this message without support. Fortunately, support rose to the call here on Patreon. More importantly, it takes the committed company of others to move a nation. It takes teamwork.

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 you need to take action right now. No one is going to stand up for us, except ourselves. I'd like to quit my semi-retirement job and focus entirely on this because I think it's more important. To match that lost income, I'd need to reach $4,000 a month in support. For now, people have jumped in enough that I give it as much time as I can (about 20 hours a week). That means $500 in monthly donor support comes to about $5/hour for my time. (So, I actually did a little better mowing lawns in the '70s.)

I'm still charitably giving my time to this topic solely because I believe passionately in the importance of this message. One cannot win such a battle alone; so, if there was not that much support, I would have discontinued the blog. $500 a month said to me, "We're genuinely with you! We may be a small group, but we're committed." I chose Patreon because it is a highly trusted platform used by numerous writers, which allows commitments of monthly support where other sites are only set up for one-time contributions.

For years, I made my living as a five-star resort property manager, but I semi-retired a few years ago in order to focus on this writing project. I don't have a pension as of yet (because I'm only 61), so I do other part-time work while I give as much time to this project as I can.

Now is the only time we have to beat the establishment because they have already started taking us into another round of bailouts even bigger than the last ones. 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

And you can find my one book on the topic here: 
12% complete
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 noted here is to reach a level of support where I am able to quit my day job and dedicate myself to working full-time at beating the establishment with articles and public speaking that keep a spotlight on the greed, corruption and Fed errors that perpetuate our economic weakness. 

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 much higher level!

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By becoming a patron, you'll instantly unlock access to 39 exclusive posts
By becoming a patron, you'll instantly unlock access to 39 exclusive posts

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