Monday, March 4, 2013
Bersani ultimatum may bring new Italy election closer (Reuters)
Italy’s Debt Highest Since Dictator Mussolini: Chart (Bloomberg)
Jolt From Italy's Elections May Not Be Enough (The New York Times)
Construction data raises recession fears [in the UK]: Further contraction of sector increases the prospects of a triple-dip recession and piles pressure on the chancellor to help construction industry in the budget (The Guardian)
Japan could miss fiscal target even with 3 percent economic growth: government document (Reuters)
The Next [US] Housing Bubble: Student Loan (FoxBusiness)
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.