Monday, May 13, 2013

Monday roundup (03-13-13)

Europe could drop interest rate below zero on excess bank deposits (The Los Angeles Times)

Confusion Reigns: Europe Bickers Over Banking Union (CNBC)

France and Germany: A tale of two countries drifting apart [Pew Research Center via] (The BBC) The New Sick Man of Europe: the European Union: French Dispirited; Attitudes Diverge Sharply from Germans (Pew Research Center)

Spain, Portugal urge eurozone to unfreeze credit, speed up banking union: But Germany calls for more cautious approach to creating central authority for rescuing banks (The Associated Press)

The Beginning of The End for Japan? 5* (Cliff Küle's Notes blog) OtterWood Observations on Japan, May 2013 (Youtube)

Fixing 'Too Big To Tolerate' Banks [in the US] (Forbes)

Is the Fed Afraid to Regulate the Big Banks? by Simon Johnson (Bloomberg)

The Non-Threat of Inflation -- "Anyone talking about inflationary threats or hyperinflation isn't paying attention right now." (the bonddad blog)

Could Detroit declare bankruptcy? (The Associated Press) Detroit insolvent, EM Kevyn Orr says: City's cash flow running in the red, ability to borrow exhausted (The Detroit News) City of Detroit is financially 'insolvent' (CNNMoney)

Supreme Court Supports Monsanto in Seed-Replication Case (The New York Times) Monsanto’s Biotech Empire Gets A Supreme Boost (The Wall Street Journal 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.

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