Thursday, January 3, 2013

Thursday roundup (01-03-13)

Euro-Zone Credit Conditions Remain Strained (The Wall Street Journal) Bank Lending in Euro Zone Slumped in November, Data Show (The New York Times)

Germany plans more austerity measures - paper
(Reuters)

Putin gives tax exile Depardieu Russian citizenship (Reuters)

Japan's Growing Sovereign Debt Time Bomb: The eyes of the financial world are on Greece and other heavily indebted euro-zone countries. But Japan is in even worse shape. The country's debt load is immense and growing, to the point that a quarter of its budget goes to servicing it. The government in Tokyo has done little to change things. (Spiegel Online)

Why the Tea Party Will Live On: The fiscal-cliff deal shows that [US] government just can't stop getting bigger. (The Atlantic)

     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