Sunday, August 3, 2014

Sunday roundup (08-03-14)

Portugal in $6.6 billion rescue of Banco Espirito Santo (Reuters) Banco Espírito Santo to Be Split Up in Rescue by Portugal (The New York Times)

Britain has taken longer to recover from recession than at any time since the South Sea Bubble: The Coalition’s triumphalism over restoring output to its starting  level is totally misplaced by David Blanchflower (The Independent)

Not just Argentina: 11 countries near bankruptcy [= Ecuador, Egypt, Pakistan, Venezuela, Argentina, Belize, Cuba, Cyprus, Greece, Jamaica, and Ukraine; report dated Aug. 1 from 24/7 Wall St. via] (USAToday) Need for bankruptcy court on sovereign defaults: The Argentina debt saga in the US shows exactly why it is needed by Nouriel Roubini [July 10] (Gulf News)

America’s Structural Job Depression Is Here To Stay (Investment Research Dynamics) ["... this economy is in a long-term structural depression."] (Youtube)

Paltry credit-card debt growth signals restrained consumer (Marketwatch)

     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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