Wednesday, September 19, 2012

Wednesday roundup (09-19-12)


The Next Panic: Europe’s crisis will be followed by a more devastating one, likely beginning in Japan. By Peter Boone and Simon Johnson (The Atlantic)

Japan launches QE8 as 20-year slump drags on: Japan has launched an eighth round of quantitative easing to weaken the yen and cushion a slide back into recession. (The Telegraph)

China, Japan and the world’s Agadir Crisis (1911) (The Telegraph blogs)

FDIC’s Hoenig Says Banks May Return to Pre-2008 Risky Behaviors (Bloomberg) Banks Need to Dump Brokers: FDIC Director (The Street)

How Jimmy Carter’s Grandson Helped Leak the Secret Romney Fund-raiser Video (New York Magazine) How the Romney video leaked: For Carters, it was personal (NBCNews) A Mood of Gloom Afflicts the Romney Campaign (The New York Times blogs) Mitt Romney Video Sends Capitol Hill Republicans Running For The Hills (The Huffington Post 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 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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