Thursday, August 30, 2012

Thursday roundup (08-30-12)


September Offers 15 Days To Cement Crisis Solutions: Euro Credit (Bloomberg)

China’s fears grow over eurozone crisis: China has expressed deep alarm at the escalating crisis in Europe and warned against austerity overkill as Europe's crumbling demand sends shock waves through Asia. (The Telegraph) Chinese Premier urges Greece, Spain and Italy to sort out debt crisis and admits he is 'worried' (The Daily Mail)

Euro breakup would cost Germany 10 percent of GDP - wise man (Reuters)

Bundesbank chief considered quitting over ECB bond buying-paper (Reuters) Draghi Takes On Bundesbank Orthodoxy In Crisis-Plan Plea (Bloomberg)

Spain Said To Speed EU Bank Bailout On Collateral Limits (Bloomberg)

Portugal 2012 deficit to exceed target - report (Reuters)

Why Are the Big Banks Suddenly Afraid? by Simon Johnson (The New York Times)

Keen2012StudyEconomicsAtUWS (Youtube)



Webchat: Put your questions on the financial crisis to Ambrose Evans-Pritchard: After five years of financial crisis, are we through the worst? Put your questions to Ambrose Evans-Pritchard during a live webchat from 12.30pm on Wednesday 5 September. (The Telegraph)

     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 that exist today could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. This blog further attempts to show that the financial crisis of 2008 was largely a result of the devastating consequences of excessive risk taking and the absence of effective regulation of such behavior. Furthermore, this blog maintains that not only have the lessons that should have been learned from this experience not been learned, but that the risks to the economy, including the persistent building up of "too big to fail" institutions, have actually increased since the crisis began. Finally this blog also brings to light, from time to time, reports of a parallel threat to economic well-being developing in the energy industry, which suggest that an energy shock may be coming much closer in time than is generally imagined.

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