Sunday, April 28, 2013

Sunday roundup (04-28-13)


[World Economy is] Still stuck on central-bank life support (Reuters)

The Priesthood of Central Bankers by Christopher Whalen (The National Interest)

ECB moves closer to rate cut as euro zone recession deepens (The Globe and Mail of Toronto)

Europe must fix its broken banks: The EU 'policy' of hoping for something to turn up that will somehow resolve this issue is a cop-out (The Irish Independent)

European Leaders’ Softening on Austerity May Accelerate (Bloomberg)

[Meanwhile...] Greek parliament approves 15,000 civil service job cuts (The BBC)

[US] Banks Have Become “Too Big To Fail” Again. Uh-Oh.: And there’s only so much governments are willing to do about it by Simon Johnson [Project Syndicate via] (Slate)

Brown-Vitter banking bill aims to address an unhealthy situation [editorial] (The Washington Post)

While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got $2 Billion [contains some vulgar language] (Rolling Stone blogs)

     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.

No comments:

Post a Comment