Monday, August 26, 2013

Monday roundup (08-26-13)

Greece may need new bailout of 10bn euros (Agence France-Presse) When will it end? Greece says it wants ANOTHER £8billion to stay afloat - but won't accept any more austerity measures (The Daily Mail)

Italy PM meets with centre right to defuse growing row (Reuters) [But ...] "'It doesn't look like the politicians will find a compromise to get out of this crisis, which in turn puts all measures that need to be taken to spur the economy on ice,' a Milan-based trader said." (Reuters)

Portugal’s public debt rises to 131.4 pct of Gross Domestic Product (Macauhub)

Saudis offer Russia secret oil deal if it drops Syria: Saudi Arabia has secretly offered Russian a sweeping deal to control the global oil market and safeguard Russia’s gas contracts, if the Kremlin backs away from the Assad regime in Syria. (The Telegraph)

None of the experts saw India's debt bubble coming. Sound familiar?: India's economic problems reflect a global boom-to-bust pattern. Why do policymakers act surprised? (The Guardian)

Weak U.S. durable goods data dims growth outlook (Reuters)

Obama administration sees mid-October default deadline (Reuters) U.S. faces mid-October deadline to raise debt limit (The Washington Post)

Economists: Future deficits top US fiscal problem (The Associated Press)

The 5% recovery: Why most are still in recession (CNBC)

The Leveraged Buyout of America by Ellen Brown (The Web of Debt blog) America Is Heading Toward A Feudalistic Economy (Cliff Küle's Notes 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.

No comments:

Post a Comment