Sunday, July 21, 2013

Sunday roundup (07-21-13)

Euro-zone Deflation Warning for U.S. (Elliott Wave International)

China risks deflation trap as true GDP crumbles: China is sliding towards a deflation trap and may be in outright recession already if data are measured accurately, with serious knock-on risks for the global economy. (The Telegraph)

Avalanche of City Debt Downgrades [in the US] and Eventual Bankruptcies Coming Up; Numerous Cities Bankrupt Over Pension Promises (Mish's Global Economic Trend Analysis blog) Detroit not alone under crushing pension obligations (USAToday) Now That Detroit’s Gone Bust, Is Your City Next? (Cyniconomics) Detroit bankruptcy: Is it a warning sign of things to come?: Detroit's financial meltdown has lessons for Canada and the rest of the global economy, Don Pittis writes (The Canadian Broadcasting Corporation)

Conservatives and Libertarians Should Support the Return of Glass-Steagall by William K. Black (The Huffington Post)

Unofficial Problem Bank list declines to 734 Institutions (Calculated Risk blog)

Is CNBC Trying To Hide This Video From The Internet? [this is the full interview, which heretofore has not been posted on this blog] (Cliff Küle's Notes blog) Sen. Warren Leads Charge to Break Up Big Banks (CNBC)

Worldwide Honey Bee Collapse: A Lesson in Ecology (Nation of Change)

     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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