Tuesday, July 22, 2014

Tuesday roundup (07-22-14)

Global Food Prices are Deflating (Pragmatic Capitalism)

Economic meltdown scenario [involving the whole world] piles pressure on Russia and the west: Policymakers dread [the possibility that an economic] slump in Russsia – from further sanctions by the west – would trigger another global economic meltdown (The Guardian) How far do EU-US sanctions on Russia go? (The BBC)

Eurozone public debt rises sharply: Eurostat (Agence France Presse) Eurozone public debt surges: Public debt in the 18-member eurozone soared to a record high in the first quarter of 2014. The embattled economies of southern European nations accounted for much of the increase. (Deutsche Welle)

Eurozone economy dead in the water, with crisis expected to carry on 'a long time' (The Telegraph blogs)

Europe Between Financial Repression and Regulatory Capture by Stefano Pagliari, Shahin Vallée and Éric Monnet [Bruegel Working Paper] (Archive of European Integration of The University of Pittsburgh)

Deutsche Bank Suffers From Litany of Reporting Problems, Regulators Said: Letter From New York Fed Said Some Reports From Deutsche Bank's U.S. Operations Were 'Inaccurate and Unreliable' (The Wall Street Journal)

Our rocketing national debt pile is the British economy’s Achilles’ Heel: The deficit for the first three months of the fiscal year stood at £36.1bn, 7.3pc more than the £33.7bn racked up during the same time last year (The Telegraph) George Osborne's deficit reduction plan under pressure as borrowing rises: Chancellor set to miss deficit reduction target for 2014/2015 after borrowing rises in first three months of fiscal year (The Telegraph)

China’s terrifying debt ratios poised to breeze past US levels by Ambrose Evans-Pritchard (The Telegraph blogs)

Inflation Was Much Higher [in the United States] Pre-Crisis than Post-Crisis (The Big Picture blog)

Contrarian's Case: Why US Could Dip Into Recession (The Associated Press)

     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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