Friday, July 5, 2013

Friday roundup (07-05-13)

Surprise! Inflation is too low almost everywhere on earth (The Washington Post blogs)

Eurozone faces 'lost decade' unless action taken on banks: The eurozone faces a Japanese style "lost decade" unless action is taken to address the deep-seated problems of its banks, ratesetter Benoît Coeuré has warned. (The Telegraph) ECB's Coeure: Risk of delayed recovery exist, warns of lost decade (Reuters) Why Europe Should Fear ‘Turning Japanese’ ["The whole world is turning Japanese," says analyst Satyajit Das] (CNBC) 'The Whole World Is Turning Japanese': Satyajit Das, author of Traders, Guns and Motors, tells CNBC that Europe is going down exactly the same route as Japan, so they are hypocritical to criticise them. (CNBC)

German Factory Orders Drop as Euro-Area Economy Struggles (Bloomberg)

China Vice Finance Minister Urges ‘High Alert’ on Local Debt (Bloomberg) China admits local govt debt levels unknown, could be higher than estimated (Reuters)

Obamacare Strikes: Part-Time Jobs Surge To All Time High; Full-Time Jobs Plunge By 240,000 (ZeroHedge blog)

[Meanwhile] IBM layoffs exceed 3,000 [since mid-June] (The News & Observer blogs of Raleigh, NC)

Four Charts to Track Timing for QE3 Tapering (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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