Wednesday, July 3, 2013

Wednesday roundup (07-03-2013)

UN Charts ‘Unprecedented’ Global Warming Since 2000 (Bloomberg)

Portugal, Greece risk reawakening euro zone beast (Reuters)

Germany Urges Greece to Keep Pledges as Debt-Cut Talk Resurfaces (Bloomberg)

Portugal: heading for a second bailout? (The Financial Times) Portugal’s Coalition Splinters on Austerity Fatigue (Bloomberg) Barroso: Portugal's financial credibility at risk (Marketwatch) Portugal president calls crisis talks as government teeters (Reuters) Portugal's government teeters as Europe debates austerity (The Los Angeles Times)

Moody's downgrades Spanish bank debt (SkyNews)

Swiss seek to avert U.S. charges against banks (USAToday) Switzerland to help banks avoid U.S. tax charges (Reuters) Swiss Offer Plan to Solve Dispute Over Data on U.S. Tax Evaders (The New York Times)

UK Shop Prices Drop For Second Straight Month on Non-Food Deflation (International Business Times) ["The drop would have been even greater had the cost of food not continued to rise."] (This is Money)

KYLE BASS: If China Doesn't Change, 'We Will Likely See A Full-Scale Recession' Sometime Next Year (The Business Insider)

[US] Senate panel to continue 'too big to fail' debate (The Hill blogs)

College default rates higher than grad rates (USAToday)

SMA Solar to Cut 700 German Jobs as Photovoltaic Market Shrinks (Blooomberg)

     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