Thursday, August 7, 2014

Thursday roundup (08-07-14)

ECB gets ready to pump cash into eurozone as fears rise over recovery: Mario Draghi says preparatory work in place for quantitative easing to combat deflation and economic stagnation (The Guardian) Draghi warns eurozone at risk as Russia ramps up trade war: ECB President says geopolitical tensions - particularly in Russia and Ukraine - are a threat to recovery as Russia bans Western food imports (The Telegraph)

ECB preview: The charts that should keep Mario Draghi up at night (Marketwatch blogs)

Germany close to recession as ECB admits recovery is weak: Mario Draghi says the recovery remains “weak, fragile and uneven”, with a marked slowdown in recent weeks by Ambrose Evans-Pritchard (The Telegraph)

France's trade deficit widens amid fears of stalling growth (Agence France Presse)

Italy’s triple-dip recession has wiped out all its growth since 2000 -- ["Maybe it's time to stop calling this just a recession."] (The Washington Post blogs)

The ECB's next problem: saving Italy: Fathom Consulting reckons that without a European Central Bank rescue, in the form of large-scale quantitative easing, a full-blown run on Italian debt is inevitable (The Guardian blogs)

Is the Russian economy on the verge of collapse? (CNBC)

Fed survey shows most households [in the United States] not better off five years after recession (Fortune) One-fourth of U.S. families "just getting by" (CBSMoneywatch) The Federal Reserve Is Telling Us The Economy Is Pitiful (The Huffington Post)

Why Half Of America Thinks We're Still In A Recession (The Huffington Post) Poll Finds Widespread Economic Anxiety: Respondents in WSJ/NBC Poll Fear Their Children's Generation Will Have Fewer Opportunities—And They Blame Washington Politicians (The Wall Street Journal)

Consumer Credit in U.S. Rises on Demand for Car, Student Loans (Bloomberg) US consumer borrowing up $18.3 billion in June; gains may signal restrained consumer spending (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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