Monday, August 5, 2013

Monday roundup (08-05-13)

Euro zone retail sales back in decline in June, France a bright spot (Reuters)

IMF sees no end to French jobless crisis this decade: France’s economic reforms do not go deep enough to halt long-term decline and may not cut unemployment from double-digit levels by the end of this decade, the International Monetary Fund has warned. (The Telegraph) IMF: French growth slowed by rigid labor laws, public spending (The Associated Press) France should ease austerity, cut spending: IMF (Agence France Presse)

Italian government debt: Well oiled (The Economist blogs)

China Debt Surge Pressures Xi-Li to Avert Japan-Like Lost Decade (Bloomberg)

IMF calls for Japan reforms, plan to clear debt (The Associated Press)

[In the US] G.O.P. Governors Warn Party Members in Congress Not to Shut Government (The New York Times)

Glass-Steagall now: Because the banks own Washington: The Glass-Steagall Act provided financial security for: Americans and now is the time to revive the legislation. by Dean Baker (Al Jazeera) Why the Right Should Support the Return of Glass-Steagall (Truth Out)

Florida's economy takes on new look after the Great Recession (The Tampa Bay 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