Sunday, August 25, 2013

Sunday roundup (08-25-13)

The crisis is over. The challenges for central bankers are only beginning. (The Washington Post blogs) Goldman Sachs: Signs of 'a slow recovery' in the eurozone: Huw Pill, Goldman Sachs' chief European economist says signs of growth are there in the eurozone but more must be done than just treating the symptoms of its underlying problems. (The Telegraph)

National debt and deficit data for every OECD country: Developed economies around the world are in trouble with their budget deficits. See how their national debts compare (The Guardian blogs)

Italian centre right warns of coalition collapse over Berlusconi vote (Reuters) Berlusconi, Santanchè: faremo cadere governo. Brunetta: se Pd vota decadenza sarà crisi (Il Sole 24 Ore) Berlusconi: rompiamo, andiamo al voto con questa gente nessun governo (Il Messagero)

Britain to be roped into EU rescue aid for Greece: The European Commission is planning use of EU budget funds for the next rescue of Greece, roping Britain into future responsibility for shoring up the eurozone currency structure. (The Telegraph)

FLSmidth sheds 1,100 jobs as miners cut capital spending (Reuters)

     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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