Monday, February 4, 2013

Monday roundup (02-04-13)


BIS's Caruana: Euro-Zone Debt Crisis 'Far From Over' - Report (Dow Jones Newswires) "'It is still possible that the euro crisis can break out again and worsen,' he said" (Reuters)

ECB Told to Double Its Manpower (The Financial Times)

EU review: Bailout for Spanish banks on track but country faces big economic challenges (The Associated Press)

U.K. to Avoid Recession, but Growth to Be Weak (Dow Jones Newswires)

George Osborne To JPMorgan: The Days Of Being 'Too Big To Fail' Are Over (The Associated Press)

Why Budget Cuts Could Throw [US] Economy Into Recession (CNBC)

Gas prices take bigger bite of Americans' income (CNNMoney)

Wall Street Rating Agency to Face Justice Department Lawsuit (ABCNews blogs)

Mortgage Insurer [= The Federal Housing Administration] Is One Recession Away From Bailout, Critic Says (The Street)

Matt Taibbi on Big Banks’ Lack of Accountability: The journalist explains how our government — fearing another economic calamity — lets big banks off the hook for detestable behavior. (Bill Moyers & Company)



This Is Housing Bubble 2.0: David Stockman [VIDEO] (Yahoo!'s The Daily Ticker)

One-Third of Student Loans Are Subprime Loans (Iacono Research)

     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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