Wednesday, January 9, 2013

Wednesday roundup (01-09-13)

Germany's Sliding Back Into Recession (CNBC)

'Disappointing' trade deficit figures a drag on recovery renewing triple-dip fears: Britain's trade deficit narrowed in November as exports rose more than imports, but the fall was below forecasts, which economists warn will act as a drag on growth and further threatens a triple-dip recession. (The Telegraph) UK trade deficit narrows but remains on track for another poor year: Analysts had hoped a fall in the value of the pound following the financial crash would end 30-year run of trade deficits (The Guardian)

Japan's Aging Population Could Soon Struggle To Buy Food Thanks To The Yen's Decline (The Business Insider)

Matt Taibbi: 'The Bailouts Officially Created A Sucker Class' (Here's Who's In It) (The Huffington Post blog)

Obama's Treasury Secretary Pick Claimed Deregulation Did Not Cause the Financial Crisis
(Mother Jones)

The platinum coin idea is idiotic. That is the point. (The Washington Post blogs) $1 Trillion Platinum Coin: Fighting Stupid with Silly (The Fiscal Times) White House Won’t Rule Out $1-Trillion Coin Option (ABCNews)

A Bold Dissenter at the Fed, Hoping His Doubts Are Wrong
(The New York Times)

Vital Signs Chart: Jump in Consumer Borrowing (The Wall Street Journal blogs)

Morgan Stanley cuts 1,600 jobs as business languishes
(Reuters) Deep Cuts Raise Questions About Morgan Stanley (The New York Times blogs)

Bay County-based Dow Corning laying off 500 workers globally (MLive)

     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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