Tuesday, March 5, 2013

Tuesday roundup (03-05-13)


Europe's economic fractures widen in February (Reuters)

EU Opens Way for Easier Budgets After Austerity Backlash (Bloomberg)

Spain Reform Delays Add to Bank Cleanup Hurdles, EU Says (Bloomberg)

Cypriot crisis deepens as 'haircut' fears drive capital flight: Capital flight from Cyprus has accelerated since eurozone politicians began threatening losses for bank depositors, and may have reached 12pc of the country's GDP over the last month. (The Telegraph) Euro zone to bail out Cyprus - no details on how (Reuters)

The Last Time The Dow Was Here... (ZeroHedge blog)

Fed's Powell: Ending too big to fail to take years (Marketwatch)

Senators Bash DOJ for “Evasive” Response on “Too Big To Jail” (PBS Frontline)

Higher Bank Equity Is in the Public Interest by Simon Johnson (Bloomberg)

N.J. Unfunded Pension Liabilities Widen to $47.2 Billion (Bloomberg)

Visualizing Wealth Inequality in America (Iacono Research) Wealth Inequality in America: Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is. (Youtube)



[In the UK,] Blackburn Council to cut 500 jobs (The BBC)

     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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