Monday, August 18, 2014

Monday roundup (08-18-14)

Draghi is running out of legal ways to fix the euro: The ECB has signalled that it is safe to bet against the inflation target (The Financial Times)

France’s missed deficit targets bad for eurozone (FT Adviser)

The Italian Runaway Train (Credit Writedowns blog)

Are We [in the US] Entering A Recession? (Forbes) Is the U.S. economic recovery almost over — already?: History does not provide a lot of comfort (The Week)

Hunger in America: 1 in 7 rely on food banks (USAToday)

36% of adults lack retirement savings -- 14% of them 65 or over (The Los Angeles Times)

Lawmakers: Fed leaves door open to 'backdoor bailout' in future (The Hill) Lawmakers slam Fed's crisis lending proposal (Reuters)

PricewaterhouseCoopers Unit to Pay $25 Million Fine (The Wall Street Journal blogs)

Monarch to cut 1,000 jobs as airline seeks take off as low-cost carrier: [British] Charter airline will shed third of staff and sell off planes as it attempts to reinvent itself as low-cost European scheduled flyer [Reuters via] (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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