Sunday, September 30, 2012

Sunday roundup (09-30-12)

Austerity Has Failed in Europe, but What's Next? (The Huffington Post blog)

Germany told to 'come clean’ over Greece: German Chancellor Angela Merkel must “come clean at long last” and admit that Greece will need help for another seven or eight years, the German opposition leader said over the weekend. (The Telegraph)

Another domino falls as Hollande pushes France into depression: If French President François Hollande thinks he can assuage the bond markets by dishing out tax-heavy austerity instead of genuine reform, he has been given very bad advice. -- ["France now joins Italy, Spain, Portugal, Greece, Ireland, and parts of Eastern Europe ... all dragging each other down in a 1930s slide ..."](The Telegraph)

Thousands march in Paris against austerity in show of support for beleaguered EU partners (The Associated Press)

Greek-Spanish Pension Split Illustrates Europe’s Dilemma (The New York Times)

In Italy, a comedian is getting the last laugh (The Washington Post)

Euro zone won't last in current form, will be smaller: Slovak PM (Reuters)

China slides faster into pensions black hole (Reuters)

Japan business mood worsens as global slowdown bites: BOJ tankan (Reuters) Instant View (Reuters) Japan Tankan Sentiment Worsens as Global Slowdown Hurts Exports (Bloomberg)

Economists [9 out of 17] reluctantly pick Romney (CNNMoney)

Inflation fears? The real concern should be deflation (The Globe and Mail of Toronto)

To Fight Crime, a Poor City Will Trade In Its Police (The New York Times)

Do Friends Of Actor John Cusack Want To Steal Money From Grandma’s Pension? (MFI Miami)

Corn inventory drops to eight-year low; futures prices jump (The Los Angeles Times)

Act for Seed Freedom: 2-16 October 2012 (Youtube)

Download the True Food Shopper's Guide: How to Avoid Foods Made with Genetically Modified Organisms [GMOs] (The Center for Food Safety)

     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 an energy shock may be coming much closer in time than is generally imagined.

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