Sunday, June 23, 2013

Sunday roundup (06-23-13)

Increasing Bond Yields Risk Debt Spiral in U.S., Japan, BIS Says (Bloomberg) BIS fears fresh bank crisis from global bond spike: Soaring bond yields across the world threaten trillion of dollars in losses for investors and a fresh financial crisis unless banks are braced for the shock, the Bank for International Settlements has warned. (The Telegraph) I'm a central banker, get me out of here (The Economist blogs)

Central Banks Seeing Limits of Powers to Revive Growth, BIS Says (Bloomberg) Stimulating growth threatens stability, central banks warn: Monetary stimulus is not the answer, says the Bank for International Settlements in Basle, after share prices plunge (The Guardian)

France Is Looking Like Italy, Spain, Greece, Portugal (Cliff Küle's Notes blog) Austerity is a Four-Letter French Word by John Mauldin (The Big Picture blog)

Recession risk remains [in the UK], warns Osborne: George Osborne has warned that the economy could “relapse” back into recession unless it pushes ahead with austerity. (The Telegraph)

China Poses Global Growth Risk as Li Squeezes Credit (Bloomberg)

China's cash squeeze caused by shadow banking: Xinhua (Reuters)

[In the US:] Banks are starting to lend more freely: Creative financing, less money down and lower credit scores bring risk back to the mortgage market. (The Los Angeles Times)

Matt Taibbi reveals financial crisis smoking gun: Ratings agencies are expected to provide solid guidance about investments. Rolling Stone's Matt Taibbi joins Chris Hayes to explain how newly-revealed documents reveal corruption and dishonesty at the core of our financial industry. (MSNBC)

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More Than 25,000 Bees Die in Oregon (ABCNews blogs)

     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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