Sunday, February 24, 2013

Sunday roundup (02-24-13)

Trade protectionism looms next as central banks exhaust QE: Officials at the US Federal Reserve may be more worried than they have let on about the treacherous task of extricating America from quantitative easing. This is an unsettling twist, with global implications. (The Telegraph) Bernanke's challenge: prime markets for policy turn (Reuters) Crunch Time: Fiscal Crises and the Role of Monetary Policy (The University of Chicago Booth School of Business)

Why Italy Continues to Rain on Europe's Parade (CNBC)

Troika to review Portugal bailout, revisions seen (Reuters)

Cypriot president-elect vows to work for swift bailout deal (Reuters)

Britain’s Economic Malaise Brought Ratings Downgrade (The New York Times) Osborne Sticks With Austerity as Investors See Downgrade as Late (Bloomberg) Moody’s downgrade of the UK doesn’t matter—so why are you reading about it? (Quartz)

Governors say budget cuts will kill economic and job growth, urge Washington to compromise (FoxNews) GOP govs to Hill: Get back to bargaining table (Politico)

Helaine Olen Extended Interview Pt. 1: In this exclusive, unedited interview, journalist Helaine Olen explains the origins of the 401k and personal finance industry. (The Daily Show with Jon Stewart)

Helaine Olen Extended Interview Pt. 2: In this exclusive, unedited interview, Helaine Olen discusses the financial services empire and the economic fallacies driving the tech and real estate bubbles. (The Daily Show with Jon Stewart)

Helaine Olen Extended Interview Pt. 3: In this exclusive, unedited interview, "Pound Foolish" author Helaine Olen calls for a reassessment of the way investments are valued. (The Daily Show with Jon Stewart)

The rich corporate bankers destroyed the Glass-Steagall Act that protected us, the people (Marianas Variety of Micronesia)

     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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