Saturday, March 2, 2013

Saturday roundup (03-02-13)


George Soros Blasts Germany for Its Role in Europe Crisis (CNBC)

Italian newcomer Grillo predicts collapse in six months (Deutsche Welle) Italy paralysed as Grillo plots exit route from euro: Italy plunged deeper into political chaos this weekend after Beppe Grillo, the quixotic former comedian who holds the balance of power in parliament, suggested that the country may have to abandon the euro and return to the lire. (The Telegraph) Italy's Grillo lists conditions for backing a government (Reuters) Grillo urges debt renegotiation for Italy: report (Agence France Presse) We need a surreal fantasist like Beppe Grillo to rescue Italy, says Nobel-winning playwright Dario Fo: The author tells Tom Kington in Rome that the comedian, who finds himself kingmaker of the Italian government, is taking his cues from medieval comics who bedevilled the powerful (The Observer)

Thousands march in Portugal to protest austerity (The Associated Press)

Hard slog ahead for Cyprus deal: euro zone official (Reuters)

Does Dodd-Frank really end ‘too big to fail’? (The Washington Post blogs)

Unofficial Problem Bank list declines to 808 Institutions (Calculated Risk Blog)

     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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