Wednesday, May 1, 2013

Wednesday roundup (05-01-13)

ECB set for rate cut as inflation falls sharply (Reuters)

IMF insists on austerity despite economic damage (CBS Moneywatch)

'There will be more wealth confiscation, without a doubt': Savers and investors face further "wealth confiscation" in Europe as the continent struggles to resolve the single currency's problems, a bank chief has said. (The Telegraph)

Debt-crippled Holland falls victim to EMU blunders as property slump deepens: The eurozone’s slow suffocation is going Dutch. Each extra month of slump caused by Europe’s negligent authorities is pushing Holland closer to a debt-deflation trap. (The Telegraph)

France, Italy join hands over eurozone crisis (Agence France Presse)

Italy's Letta faces early squeeze over anti-austerity drive (Reuters)

US manufacturing grows in April at slower pace: Survey: US manufacturing grows at slowest pace in 2013, held back by weak hiring, inventories (The Associated Press) Signs Show US Manufacturing May Be Stalling Again (CNBC)

Deflation, not inflation, could bedevil markets (USAToday) Why the Fed Worries Inflation Is too Low (Bloomberg Businessweek)

Businesses were more hesitant to hire in April (CNNMoney)

     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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