Monday, June 10, 2013

Monday roundup (06-10-13)

Euro bailout Troika nears end of road with patchy record (Reuters)

Court to consider legality of ECB policy that saved the eurozone: Crisis could be reignited if Germany’s highest court rules against the European Central Bank (The Independent)

Greece: Troika Back For Debt Negotiations: European and IMF inspectors are expected to put pressure on the Athens government to impose further cuts during vital talks. (SkyNews)

Italian Economy Contracts as French Confidence Stalls: Economy (Bloomberg)

Michelin cuts 700 jobs in French factory overhaul (Reuters)

     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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