Tuesday, July 9, 2013

Tuesday roundup (07-09-13)

IMF Reduces Global Growth Outlook as U.S. Expansion Weakens (Bloomberg) IMF: Only Japan Shines As U.S. Lags, Europe's Recession Deepens And China Brings Down EMs (Forbes)

Italy’s Credit Rating Cut to BBB by S&P; Outlook Is Negative (Bloomberg) S&P Cuts Rating on Italy One Notch on Weak Economic Prospects (The Associated Press)

Mad Latvia defies its own people to join the euro (The Telegraph blogs)

British Manufacturing Decline Casts Doubt on Recovery: Economy (Bloomberg)

[In a Proposal] U.S. Boosts Bank Capital Demands Above Global Standards (Bloomberg)

Fumbling Through the Fog Around Too Big to Fail by Simon Johnson (Bloomberg)

Tangent's Rickards Says Fed Is Improvising (Audio): James Rickards, senior managing director at Tangent Capital Partners LLC, says the economy is at risk of falling into a depression, thanks to the Federal Reserve experimentation. Rickards talks with Bloomberg's Kathleen Hays and Vonnie Quinn on Bloomberg Radio's "The Hays Advantage." (Bloomberg)

Eliot Spitzer's Master Plan: Comptroller [of NYC] as Corporate Scourge (Bloomberg) The Worst People In New York All Hate Eliot Spitzer — And That's Why You Should Like Him (The Business Insider) Spitzer Quickly Hits Establishment Headwind (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.

No comments:

Post a Comment