Friday, December 2, 2016

Friday roundup (12-02-2016)

Italy, Not France, Could Be The Next Chapter In The Brexit-Trump Saga: While everyone obsesses over the future of France, the seeds of an “Italexit” are being sown. (The Huffington Post)

Italy has requested possible Monte dei Paschi bailout: paper [= Corriere della Sera] (Reuters)

Here's Why Italy's Zombie Banks Should Be Terrified About a 'No' Vote In Renzi Referendum (Fortune)

Spain Raises Taxes to Try to Meet EU Deficit Target (The Associated Press)

These are the 16 CEOs who’ve agreed to serve on [United States President-elect Donald] Trump’s new “Strategic and Policy Forum” (Quartz)

Sarah Palin: Trump's Carrier deal is 'crony capitalism' (Politico)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Thursday, December 1, 2016

Thursday roundup (12-01-2016)

Italy on the BRINK: 'No' vote in Renzi's referendum could spark euro economic APOCALYPSE: ITALY’S banks are on the brink of financial meltdown if citizens vote 'No' in the upcoming constitutional referendum, which could trigger a Greek-style meltdown impossible for Europe to contain. (The Express) Italy’s exit from the Eurozone is almost inevitable – whichever way it votes this weekend (City AM)

Pension funding deficits 'nearly a third of UK GDP' [The Press Association via] (The Daily Mail)

If [United States President-Elect Donald] Trump Doesn't Do This, We Will Have The Great Depression 2.0 by John Mauldin (Forbes)

Trump Treasury pick made millions after his bank foreclosed on homeowners: Steven Mnuchin's OneWest filed to take a 90-year-old woman's house after a 27-cent payment error. (Politico)

Mattis Is Reportedly Trump's SecDef Pick. Why That Would Be Very Comforting. (Slate) [versus] Mattis appointment as Defense secretary would signal wartime posture (USAToday) Jim ‘Mad Dog’ Mattis Once Wrote A Letter On The Importance Of Reading, And It’s A Must Read (The Daily Caller)

Expect billions more in student loan losses than we thought: Gov't watchdog (Yahoo! Finance)

6 million Americans have stopped paying their car loans, and it's becoming a 'significant concern' (The Business Insider)

Dollar General hurt by deflation, Wal-Mart & food stamp decline: Both Dollar General and Wal-Mart have made price investments (Marketwatch)

Kroger Co. (KR) growth tamed by deflation (WCPO) Lower food prices weigh on Kroger's profit forecast (Reuters)

Pennsylvania's budget hole is getting incrementally deeper (Penn Live)

Rolls-Royce to Cut Another 800 Jobs at Ailing Marine Business (Bloomberg)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Is it a recovery yet? (Weekly report, 12-01-16)

A recovery would be indicated by weekly initial jobless claims holding below 500,000, according to Linda Duessel, market strategist at Federated Investors in Pittsburgh. (Reuters)

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

"Initial jobless claims rose by 17,000 to a seasonally adjusted 268,000 in the November 26 week, the Labor Department said Thursday." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Wednesday, November 30, 2016

Wednesday roundup (11-30-2016)

Italian banks hold nearly a third of euro zone's bad loans - ECB (Reuters)

[United States President-elect Donald] Trump announces he will leave business ‘in total’ — leaving open how he will avoid conflicts of interest (The Washington Post) Trump faces challenges in separating from business: legal experts (Reuters)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Tuesday, November 29, 2016

Tuesday roundup (11-29-2016)

How Italy’s referendum could spark a ‘systemic crisis’ in the eurozone: Italian banking sector set for new crisis, analysts warn (Marketwatch) Will Italy provoke a systemic financial crisis afterDecember 4? (The Huffington Post)

The Italian referendum result could be the beginning of the end for the eurozone: Italy was going to be in trouble again sooner or later. It was merely a matter of time, and the timing was never going to be good. Europe’s leaders should have taken evasive action months ago [Editorial] (The Independent) Chance of Italy leaving euro zone hits four-year high: survey (Reuters)

Italy's banks might need a €52 billion bailout (The Business Insider)

Failure to conclude bailout review main risk for Greek economy - cenbanker (Reuters)

Britain's borrowing binge continues as credit card debt hits record high (The Telegraph) Brexit hasn't hit Britain's 'appetite for debt': Buyers return to market as mortgage approvals recover in October (This is Money)

India's 'economic miracle' is built on debt, dispossession and now, monetary destruction (Ecologist)

Debt, interest rates and financial repression by Carmen M. Reinhart (Nikkei Asian Review)

[United States President-elect Donald] Trump is meeting with an ex-bank CEO who wants to abolish the Federal Reserve and return to the gold standard (The Business Insider)

Surprise: Trump’s Advisor on Wall Street Regulations is a Longtime Swamp-Dweller: Trump’s transition advisor for financial regulations works for a firm that is emblematic of the Washington revolving door. (Pro Publica)

Airbus Group to cut net total of 934 jobs (Reuters)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Monday, November 28, 2016

Monday roundup (11-28-2016)

Growth stalling would be biggest risk to Europe's economy: ECB's Draghi (Reuters)

ECB’s Mario Draghi Warns of Risks of Prolonged Low Interest Rates: A lengthy period of low rates has created ‘fertile terrain’ for financial-market risks, the central bank chief says (The Wall Street Journal)

Greece Needs Debt Relief, Eurozone Central Banker Says (The Associated Press)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Sunday, November 27, 2016

Sunday roundup (11-27-2016)

Italy Defies EU Imposed Austerity With Brussels-Baiting Budget (Agence France Presse)

Fears of multiple bank failures if Renzi loses referendum: Millions who face losses under EU ‘resolution’ system to decide prime minister’s fate (The Irish Times) Tens of thousands march in Rome to protest constitutional reforms put forward by embattled Italian premier Matteo Renzi (The Telegraph)

China's property frenzy and surging debt raises red flag for economy: Outstanding loans have risen sharply to 40% of GDP but analysts fear the end of the credit binge could trigger a crisis for the wider world (The Guardian)

[In the United States,] Wells Fargo seeks arbitration order in customer lawsuit (The Associated Press)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.