Sunday, August 4, 2013

Sunday roundup (08-04-13)

Hugo Salinas Price* Says Derivatives Meltdown Ahead -- ["And I have very serious doubts about the survival of our civilization ... I expect that a great crisis is coming."] (Cliff Küle's Notes blog)

BIS blames Europe's creditors for eternal euro crisis: Europe's creditor powers bear as much blame as debtors for the eurozone's eternal crisis and are blocking recovery by failing to play a full part in righting the ship, according to the Bank for International Settlements. (The Telegraph)

Berlusconi Shockwaves in Italy Pose Threat to Euro Crisis Lull (Bloomberg)

Bank of England to keep interest rates low to boost economy: Mark Carney, will set out plans to raise business lending and indicate interest rates to stay put while 'hurdles' remain (The Guardian)

Heart Disease and Health Care Spending (The Mess That Greenspan Made blog) Heart Surgery in India for $1,583 Costs $106,385 in U.S. (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.

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