Monday, February 11, 2013

Monday roundup (02-11-13)

Could Weak Euro Zone GDP Spell End to Austerity? (CNBC)

Berlusconi is Back, and So Is the Eurozone Debt Crisis (Money Morning)

Euro-Skeptic Grillo Pushes for Italy Debt Renegotiation in Vote (Bloomberg)

Spanish Deficit Haunts Rajoy Defying Junk Status (Bloomberg)

Fed's Yellen says austerity policies may be counterproductive (Reuters) A Painfully Slow Recovery for America's Workers: Causes, Implications, and the Federal Reserve's Response (Board of Governors of the Federal Reserve)

Tough Wall Street Enforcement Lost in 'Revolving Door': Study (CNBC) Casablanca gambling? I'm shocked! (Youtube)

Can Conservatives Be Convinced to Break Up the Banks? (New York Magazine) Stop coddling the big banks (The Washington Post blogs)

Rep. Campbell takes on ‘too-big-to-fail’ banks: Republican congressman wants banks to hold more capital (Marketwatch)

Patience seen as component in NJ credit card scam (The Associated Press)

Barclays Plans 2 Billion Pound Cost-Cutting [Eliminating as Many as 2,000 Jobs] (The Financial Times) Barclays CEO set to cut jobs, costs in overhaul plan (Reuters)

Italy's [Publisher] RCS plans 800 layoffs, sell property - sources (Reuters)

Somis farm, packing plant to close; more than 600 workers facing layoffs (Ventura County [CA] Star)

     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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