Sunday, August 28, 2016

Sunday roundup (08-28-2016)

Global central bankers, stuck at zero, unite in plea for help from governments (Reuters) Central Bankers Hear Plea: Turn Focus to Government Spending (The New York Times)

Bill Gross: Yellen's Economy "May Never Walk Normally Again, This Is Not Capitalism" (ZeroHedge blog)

     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.

Saturday, August 27, 2016

Saturday roundup (08-27-2016)

Greece PM says EU sleepwalking toward cliff, wants debt relief by end 2016 (Reuters)

August 2016: Unofficial Problem Bank list declines to 184 Institutions (Calculated Risk blog)

Hundreds [= about 840] laid off at Ashley Furniture factory/warehouse in Colton (The Inland Valley Daily Bulletin of San Bernadino County, California)

     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.

Friday, August 26, 2016

Friday roundup (08-26-2016)

Viktor Shvets: ‘The Private Sector Will Never Recover’: The Macquarie strategist's brutal assessment of the world economy is fascinating, but not for the faint of heart (The Epoch Times)

Japan's deflationary spiral worsens as 'Abenomics' falters: Consumer prices fell by 0.5% in July – the biggest drop for more than three years – as markets await US hints on rate rise (The Guardian)

There Are Real Reasons to Bring Back Glass-Steagall [in the United States] by Marcus Stanley, policy director for Americans for Financial Reform (The American Banker)

     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, August 25, 2016

Thursday roundup (08-25-2016)

Real World Shows Economics Has a Deflation Problem (Bloomberg)

The head of Germany’s largest bank says negative rates are ‘fatal’: Cryan says negative interest-rate policy could have ‘fatal consequences’ (Marketwatch)

Here Are the Signs That Deutsche Bank Is in Big Trouble: Investors should worry when government ministers and executives insist everything is OK. (TheStreet)

Italy Quake Seen Affecting Economic Confidence as Growth Stalled (Bloomberg) Italy quake toll hits 250 as rescuers search flattened towns (Reuters)

Japan remains entrenched in deflation as core inflation falls to a 3-year low (The Business Insider)

[In the United States,] States face a $1 trillion pension shortfall (CNNMoney)

     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, 08-25-16)

A recovery would be indicated by weekly initial jobless claims holding below 500,000. ["'I think that we're hoping for the numbers to stay below 600,000, and not until we get below 500,000 can we be more certain that there is an economic recovery,' said 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.)

"The number of Americans who applied for unemployment benefits last week fell by 1,000 to 261,000 and remained near postrecession lows, indicating a healthy labor market in which few people are losing their jobs." (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, August 24, 2016

Wednesday roundup (08-24-2016)

French support for the EU project is crumbling on the Left and Right by Ambrose Evans-Pritchard (The Telegraph) It’s Time to Start Worrying About a Frexit (Fortune)

EU, Portugal reach deal to shore up nation’s largest bank: $3 billion injection hoped to help ease Portugal’s troubled banking sector [The Wall Street Journal via] (Marketwatch)

Why Portugal could be Europe’s next economic disaster: More woes for Europe this summer—Portugal at risk of downgrade (Marketwatch)

The hidden risk to the economy in corporate balance sheets [in the United States] (The Associated Press)

Top 25 Corporate Pension Plans Alone Are Underfunded By Over $225 Billion (ZeroHedge blog)

Illinois governor's office warns of crippling pension payment hike (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, August 23, 2016

Tuesday roundup (08-23-2016)

Europe on the brink of COLLAPSE as 'divorce' is needed to prevent economic doom: THE European Union is on the brink of imploding, destroying the Euro and causing economic doom, according to a Nobel Prize winning economist. (The Express) The euro has destroyed the EU and led directly to Brexit (The Telegraph)

[In the United States,] Fed Admits Another $4 Trillion In QE Will Be Needed To Offset An "Economic Shock" (ZeroHedge blog)

Multiple donors to Clinton Foundation met with her while at State Department (FoxNews) More than half the non-government people Clinton met with at the State Department were Clinton Foundation donors (The Associated Press) Now Hillary has a big Clinton Foundation problem, too (The Washington Post)

Voters Don’t Trust Donald Trump On Any Of These Major Issues: He’s the most distrusted Republican candidate in recent history when it comes to policy. (The Huffington Post)

Nobel prize winner Stiglitz calls TPP 'outrageous' (CNNMoney)

     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.