Sunday, June 30, 2013

Sunday roundup (06-30-13)

Billionaire Sprott Warns - This Will Crash The Financial System (King World News)

Eurozone's new banking deal may be a two-edged sword: There's no doubt bankers led politicians a merry dance, but new rules agreed by the EU could endanger stability, writes Dan White (The Irish Independent)

France's triumphant 'Joan of Arc' vows to bring back franc and destroy euro: Marine Le Pen is spoiling for a fight. The leader of France's Front National vows to smash the existing order of Europe and force the break-up of monetary union, if she wins the next election. (The Telegraph)

Greece, lenders resume talks on 8.1 billion euro bailout tranche (Reuters)

Fed Officials Intensify Effort to Curb Surge in Interest Rates (Bloomberg)

Student loan rates doubling on Monday (CNNMoney)

Unofficial Problem Bank list declines to 749 Institutions, Q2 Transition Matrix (Calculated Risk blog)

     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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