Tuesday, September 18, 2012

Tuesday roundup (09-18-12)


Deflation's Here, and the Downward Spiral Has Started (American Thinker)

More ECB cash might not unlock lending (Reuters)

Doubts plague Europe's pledge for banking union (Reuters)

EU Auto Market Seen Down 10% This Year (The Wall Street Journal) Ford Leads European Car Sales Drop as German Demand Falls (Bloomberg)

EU Can-Kicking Is Undermining Greece (CNBC blogs)

Calls for more time as Greece faces deficit squeeze (Reuters)

Now German Chancellor Angela Merkel dampens Irish hopes of bailout cut (The Irish Independent)

On Anniversary of Japanese Invasion, Chinese Protest Fueled by Land Disputes: On the anniversary of an event that triggered the 1931 Japanese invasion and occupation of Manchuria, Chinese activists and protesters went out to demonstrate, some violently. Helping fuel these protests were disputes between Japan and China on the ownership of uninhabited islands northeast of Taiwan. Margaret Warner reports. (PBSNewshour)



Beijing hints at bond attack on Japan: A senior advisor to the Chinese government has called for an attack on the Japanese bond market to precipitate a funding crisis and bring the country to its knees, unless Tokyo reverses its decision to nationalise the disputed Senkaku/Diaoyu islands in the East China Sea. (The Telegraph)

The European Debt Crisis Is No Longer The Biggest Worry Among Money Managers (The Business Insider)

Election Uncertainty [= A Hung Congress Emerging From The Vote] Raises Odds Of Fiscal Cliff (The Wall Street Journal blogs)

Romney's remarks ricochet across political landscape: After a secretly recorded tape emerged showing Republican presidential candidate Mitt Romney making controversial comments at a fundraiser, politicians and pundits weighed in . NBC's Peter Alexander reports. (NBC Nightly News with Brian Williams)

Visit NBCNews.com for breaking news, world news, and news about the economy


WATCH: Full Secret Video of Private Romney Fundraiser (Mother Jones)

[Less than two months before the US election:] Obama Widens Lead in Polls as Romney Faces Challenges (CNBC)

Canada’s Budget-Cut Veteran Has Warning for U.S. (The Wall Street Journal blogs)

U.S. home lending hit 16-year low in 2011 - regulators (Reuters)

GSEs Remain Backdoor Bailouts for Banks (The Big Picture blog)

NEWSPAPER AD REVENUES COLLAPSE TO 1950 LEVELS (Breitbart)

Neil Barofsky: Another Financial Crisis All But Inevitable (Seeking Alpha blog)

AMR expects about 4,400 job cuts, warns 11,000 (The Associated Press) American issues layoff notices, cuts flight schedule (Reuters) American Airlines cuts schedule for rest of September, October (Dallas Business Journal) American Is Canceling More Flights Than The Next 9 Airlines Combined (The Associated Press)

Alpha closing 8 mines, cutting 1,200 jobs in all (The Associated Press)

Logica slashes 700 UK jobs (MISAsia)

Siemens to Cut 615 U.S. Wind Energy Jobs as New Orders Dry Up (Bloomberg)

Northrop to shed nearly 600 jobs: Responding to proposed Pentagon budget cuts, Northrop accepts buyouts from about 590 workers in its aerospace unit, most of whom are in Southern California. (The Los Angeles Times)

$7 Million in Gold Discovered in Dead Man’s Home (ABCNews)

     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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