Tuesday, April 16, 2013

Tuesday roundup (04-16-13)

IMF lowers outlook for world economy (The Associated Press)

IMF: Euro Zone at Risk of Long Stagnation (The Wall Street Journal)

Francois Hollande faces austerity revolt from own ministers: French president Francois Hollande is facing an anti-austerity revolt from his own ministers as he pushes through a fresh round of tax rises and austerity to meet EU deficit targets. (The Telegraph)

IMF sees France falling into recession (Agence France Presse)

Is France the Next Cyprus?: Millenium Wave Advisors President John Mauldin on concerns about France’s financial sector. [There is a VIDEO. I have embedded the video, but at time of posting it refuses to display in the blog.] (FoxBusiness)

Italy in grips of liquidity crisis, Confindustria warns (Gazzetta del Sud)

Monte Paschi Prosecutors Seek Seizure of $2.4 Billion (Bloomberg)

Republicans embrace Obama’s offer to trim Social Security benefits (The Washington Post)

     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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