Sunday, April 21, 2013

Sunday roundup (04-21-13)

[Jeffrey Sachs says:] "I Regard the [Wall Street] Moral Environment as Pathological" by Janet Tavakoli (The Huffington Post) Jeffrey Sachs Calls Out Wall Street Criminality and Pathological Greed (Naked Capitalism blog) Explosive Video: Jeffrey Sachs Economics Professor at Columbia University Says Just How 'Pathologically Corrupt' Our Banking System Is (Cliff Küle's Notes blog) Fixing the Banking System for Good [pdf publicizing the event] (Greater Philadelphia Chamber of Commerce) SR 76 Wall Street: This is Professor Jeffrey Sachs of Columbia University speaking at the "Fixing the Banking System for Good" conference on April 17, 2013. This audio is absolutely EXPLOSIVE! (Youtube)

Nicole Foss – Relocalising the Trust Horizon [audio] (Earthsharing Australia)

IMF lurches from one disaster to the next in eurozone: As part of the Troika, global fund has failed to resolve problems of flawed currency (The Irish Independent)

Chart of the Day: Why Global Recovery Has Been So Slow (Mother Jones)

Is the Cyprus bailout doomed already? (Kathimerini)

Sabic to Cut About 1,050 Jobs, Close Some Assets in Europe (Bloomberg)

     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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