Thursday, May 23, 2013

Thursday roundup (05-23-13)

European Leaders Saying No to Austerity (Bloomberg)

ECB can't solve euro zone crisis alone: Weidmann (Reuters)

Portugal Posts Wider Budget Deficit as Spending Increases (Bloomberg)

Veteran fears 'beginning of the end' for Japan as bond market buckles: Global markets face a witches’ brew of new risks as Japan’s monetary adventure wobbles, China slows further and the US Fed prepares to shut the spigot of dollar liquidity. (The Telegraph)

Bass Sees BOJ Bond Purchases Overwhelmed as Investors Dump Debt (Bloomberg)

Deflation threat should keep Fed engaged: There's "zero chance" the Federal Reserve will start tapering off its bond-buying in June, says Keith Springer of Springer Financial Advisors. The Fed's too worried about deflation to do that. [AUDIO] (Marketwatch)

How a Big-Bank Failure Could Unfold by Marc Jarsulic and Simon Johnson (The New York Times blogs)

GMO Labeling Bill Voted Down In Senate (The Huffington Post)

Download the True Food Shopper's Guide: How to Avoid Foods Made with Genetically Modified Organisms [GMOs] (The Center for Food Safety)

     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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