Saturday, January 19, 2013

Saturday roundup (01-19-13)

Euro zone to tackle thorny question of aid for banks (Reuters)

Nostradamus Predicted: Max Keiser will cause WW3 [in reality, comments on Germany's request for its gold] (Russia Today)

German Gold Move Has Traders Worried: Two of the Fast Money traders explain why they're worried that Germany wants to reclaim a lot of its gold from the vaults of the New York Federal Reserve (CNBC)

“The Yen Is Doomed”: For Japan, This Time Really Is Different, Merk Says [there is a video, but The Daily Ticker has not enabled embedding for it] (Yahoo!'s The Daily Ticker)

How to Cut Megabanks Down to Size (The New York Times) Dallas Fed: Small Banks Key to Financial Stability (Yahoo! Finance blogs)

Unofficial Problem Bank list declines to 826 Institutions (Calculated Risk blog)

Blockbuster UK administrators to shut 129 stores, cut 760 jobs (Reuters)

     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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