Saturday, June 1, 2013

Saturday roundup (06-01-13)

Anti-austerity protesters march across Europe (The Associated Press)

Frankfurt 'Blockupy' protesters clash with police (Reuters) [The Blockupy movement is "a European version of Occupy"] (The Guardian)

Lack of genuine reform is sowing seeds of next crisis: America is on the mend. Or is it? The world’s largest economy is certainly generating some upbeat headlines. (The Telegraph)

Unofficial [US] Problem Bank list declines to 761 Institutions (Calculated Risk blog)

Banks of Wisconsin, Closed By Regulators, Becomes 14th Bank Failure of 2013 [as posted here yesterday] (Problem Bank List)

U.S. probes source of GMO wheat in Oregon; importers suspend orders (Reuters) Cost questions follow discovery of modified wheat (The Associated Press) U.S. discovery of rogue GMO wheat raises concerns over controls (Reuters)

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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