Monday, July 28, 2014

Monday roundup (07-28-14)

Why the super rich are running scared of inequality by Steve Keen [Commentary on the book The Next Economic Disaster: Why It's Coming and How to Avoid It? by Richard Vague] (Business Spectator)

We're in a private debt crisis that could lead to the next economic collapse: Richard Vague [March 28] (Yahoo!'s The Daily Ticker)

Understanding Debt Economics with Richard Vague and Steve Clemons [November 2012] (Youtube)

The Pitchforks Are Coming … For Us Plutocrats -- ["The problem is that inequality is at historically high levels and getting worse every day. Our country is rapidly becoming less a capitalist society and more a feudal society.] (Politico)

Germany Has the Most Unequal Distribution of Wealth in the Eurozone (The Huffington Post)

Throw crooked [UK] bankers in jail: Clamour grows as Bank of England chief [Mark Carney] says Lloyds traders 'clearly broke the law' (The Daily Mail) Bank of England governor blasts 'unlawful' Lloyds over bailout funding: Taxpayer-owned bank must repay nearly £8m on top of £218 in Libor fines – and could face criminal action over repo rate (The Guardian)

Keep UK interest rate low for now, IMF tells Bank of England: International Monetary Fund warns Bank to be ready to raise rates if other measure fail to keep housing market in check (The Guardian)

Why the Fed could start raising rates sooner than you think (CNBC)

Pending Sales of U.S. Existing Homes Unexpectedly Decrease ["a sign residential real estate is struggling to strengthen"] (Bloomberg)

Did Dodd-Frank Work? [July 21] (The New York Times)

Changing Old Antitrust Thinking for a New Gilded Age [July 22] (The New York Times blogs)

When Media Mergers Limit More Than Competition (The New York Times)

Dollar Tree buying peer Family Dollar Stores for approximately $8.5 billion (The Associated Press) Dollar General may be in play ["The biggest obstacle to such a deal may be antitrust concerns..."] (Marketwatch blogs) Dollar Tree Agrees to Acquire Family Dollar for $8.5 Billion [antitrust comments in comment section] (Bloomberg)

Property website Zillow to buy rival Trulia to cut costs (Reuters) [Zillow's CEO "said he did not expect the merger to face opposition from antitrust regulators"] (The New York Times blogs)

Market Basket Boycott Enters Second Week [in New England] (WGBH) How Market Basket Keeps Prices Low ["First and foremost ... the fact that the company does not carry any debt is a big help ..."] (The Boston Globe)

Your chicken is about to get more full of feces: Obama is letting the poultry industry run wild (The Guardian)

     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 exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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