Sunday, June 9, 2013

Sunday roundup (06-09-13)

Everything the IMF wanted to know about financial regulation and wasn’t afraid to ask by Sheila Bair (VOX)

Eurozone: three countries [= Ireland, Greece, and Portugal] have debt-to-income ratios of more than 300%: Figures expose indebtedness of eurozone governments in relation to government revenues – UK is sixth with ratio of 212% (The Guardian)

German Top Court Likely to Say ‘Yes, But’ to ECB Policy (Bloomberg)

If he wants to turn around the Bank of England supertanker, Mark Carney has a major task ahead: Given that monetary policy decisions take around two years to have any effect on the real economy, expectations are unreasonably high for the new govenor by David Blanchflower (The Independent)

Banzai! Banzai! Banzai! [presentation of John Maldin's newsletter on Japan's fight against deflation] (Cliff Küle's Notes blog) [The newsletter] (The Big Picture blog)

As Home Sales Heat Up Again [in the US], Buyers Must Resort to Cold Cash (The New York Times)

     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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