Sunday, January 6, 2013

Sunday roundup (01-06-13)

[Global] Regulators ease key bank rule to spur credit (Reuters) Banks Win Watered Down Liquidity Rule to Prevent Lending Squeeze (Bloomberg)

[UK] Recession fears stoked by slide in consumer spending over Christmas (The Scotsman)

Britain faces slowest housing market recovery on record with some property prices not set to peak again until 2021 (The Daily Mail)

The Trajectory of U.S. Debt, Deficit And Interest Matches Portugal, Ireland, Italy, Spain
(Forbes) Budget watchdogs extend campaign, say recent fiscal deal doesn't cut it (FoxNews) Simpson, Bowles discuss economic climate: Alan Simpson and Erskine Bowles join Meet the Press to discuss the upcoming debt ceiling debate and the last-minute fiscal cliff agreement. (NBCNews)

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


Surprise, Surprise: The Banks Win (The New York Times) Deal in Foreclosure Case Is Imminent, Officials Say (The New York Times)

Drought threatens to halt critical barge traffic on Mississippi (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.

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