Sunday, March 10, 2013

Sunday roundup (03-10-13)

When Will This New Depression End? (Richard Duncan)

Austerity: Still Not Working: Europe needs fiscal federalism and a banking union to promote growth and recovery by Joseph E. Stiglitz (Project Syndicate)

Germany's anti-euro party is a nasty shock for Angela Merkel: Political revolt against the euro construct has spread to Germany. (The Telegraph)

Fed Injects Record $100 Billion Cash Into Foreign Banks Operating In The US In Past Week (ZeroHedge blog)

Jim Rickards on Currency Wars (Youtube)

Must regain harmony with ‘Natural Law’: Our natural rights don’t come from the Constitution, Congress or the president — you are born with them. [Letter to the Editor, stating, amongst other things, that "The very best examples of the expressions of the American Constitution were the National Bank Act (1791 to 1811) and the Glass Steagall Act, (1933-1999)."] (The Daily Republic of Mitchell SD)

     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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