Saturday, June 8, 2013

Saturday roundup 06-08-13

German court case could force euro exit, warns key judge: Crucial hearings on the eurozone’s bail-out policies at Germany’s top court this week could set in motion events that force Germany’s withdrawal from the euro, a leading judge has warned. (The Telegraph)

Looming debt ceiling fight [in the US] threatens recovery (The Hill blogs)

Unofficial Problem Bank list declines to 760 Institutions (Calculated Risk blog)

Is 100pc reserve banking the solution to all our problems?: How about something truly radical – the complete dismemberment of the banking system as we know it and its replacement with what is known as 100pc reserve banking? (The Telegraph)

     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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