Sunday, December 23, 2012

Sunday roundup (12-23-12)

Trichet: Fed, ECB Balance Sheets Are ‘Profoundly Abnormal’ (CNBC)

The Eurozone’s Delayed Reckoning by Nouriel Roubini (Project Syndicate)

Fear, finger-pointing mount over "fiscal cliff" (Reuters)

Forget the 'fiscal cliff': We don't need across-the-board tax increases or spending cuts. We need policies that will create more jobs. (The Los Angeles Times)

How Democrats Became Liberal Republicans
(The Fiscal Times)

Drought Threatens Shipping on Mississippi River
(The New York Times)

MF Global Overseers Reach Accord Over Claims
(The New York Times blogs)

Why the US media ignored Murdoch's brazen bid to hijack the presidency:
Did the Washington Post and others underplay the story through fear of the News Corp chairman, or simply tin-eared judgment? by Carl Bernstein (The Guardian) Fox News chief’s failed attempt to enlist Petraeus as presidential candidate by Bob Woodward (The Washington Post)

     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.

No comments:

Post a Comment