Monday, May 27, 2013

Monday roundup (05-27-13)

Europe’s problem isn’t a recession – it’s a depression (The Globe and Mail of Toronto)

Europe's austerity-to-growth shift largely semantic (Reuters)

S&P says France must deliver promised budget cuts to protect rating (Reuters)

Large Risk of Instability in Japan; Rates Climb Even With Japan Buying 70% of New Issuance (Mish's Global Economic Trend Analysis blog)

The Falling-Bridge Lesson: The U.S. Infrastructure Failure Is Still Totally Inexcusable: America's rebuilding needs aren't going away. But the basement-bargain price of rebuilding America is. (The Atlantic)

7 Easy Steps to Invest Like Warren Buffett (Pragmatic Capitalism) Defending Warren Buffett (The Reformed Broker)

     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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