Monday, June 24, 2013

Monday roundup (06-24-13)

Stop 'Retarding' Economies With Ultra-Loose Monetary Policy: BIS -- ["current monetary policy employed in the euro zone, the U.K., Japan and the U.S. will not bring about much-needed labor and product market reforms and is a recipe for failure."] (CNBC) Making the most of borrowed time: Jaime Caruana, General Manager of the BIS on the occasion of the Bank’s Annual General Meeting in Basel on 23 June 2013 (BIS)

Crime Gangs Look to Clean Up as Europe's Black Market Balloons [The Financial Times via] (CNBC)

Italy could need EU rescue within six months, warns Mediobanca: Italy is likely to need an EU rescue within six months as the country slides into deeper economic crisis and a credit crunch spreads to large companies, a top Italian bank has warned privately. (The Telegraph)

The Bernanke Fed is playing with deflationary fire (The Telegraph blogs)

Why Recession Matters Now (Alhambra Investment Partners)

Four Years of Recovery in Charts (The Wall Street Journal blogs)

The banking system’s methodical way of punishing savers: How punishing savers is encouraging a low savings rate and high levels of debt. (MyBudget360)

76% of Americans are living paycheck-to-paycheck (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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