Thursday, August 14, 2014

Thursday roundup (08-14-14)

Is the eurozone being dragged into deadly spiral of deflation?: Portugal, Greece and Spain are in deflation, official figures show, while Italy's inflation rate fell to zero in July (The Telegraph)

Eurozone nations grind to standstill: German economy goes into reverse as France stagnates (The Daily Mail) Euro-Area Pickup Stalls as Big Economies Fail to Grow (Bloomberg) ["'It’s fairly clear that the eurozone recovery is coming apart at the seams,' said Nicholas Spiro, managing director of Spiro Sovereign Strategy in London"] (The New York Times)

Euro woe: With Ukraine unstable, low Eurozone growth is troubling [Editorial] (The Independent) Eurozone crisis: The grim economic reality (The BBC)

With No Growth, Do Europe’s Governments Scrimp or Spend? (The Wall Street Journal blogs)

German economy shrinks, hitting European recovery hopes (Reuters) Germany is itself a victim of EMU’s austerity fanatics by Ambrose Evans-Pritchard (The Telegraph blogs)

Stagnating France to miss deficit target, urges EU leniency (Reuters) France Gives Up On Deficit Target (Dow Jones Newswires) France Risks EU Deficit Clash After Scrapping Targets (Bloomberg) France rebels against austerity as Europe's recovery collapses: France’s finance minister sends tremors through European capitals with a defiant warning that his country would no longer try to meet deficit targets by Ambrose Evans-Pritchard (The Telegraph) Why Francois Hollande’s France has become the eurozone’s weak link: It feels as if France will eventually emerge as the euro’s biggest threat (The Telegraph) EU Leaders' Austerity Fight Is Crucial For Euro Future (Forbes) 'The whole eurozone is sick, not just France' (The Local)

Italy's Renzi, ECB's Draghi hold "secret" meeting as economy slides (Reuters)

Spanish public debt tops €1 trillion-mark (The Local)

Families in the red 'pose threat to UK recovery' as household debt more than quadruples since 1990 (This is Money) ["'This is kind of scary -- these people have stretched themselves to the hilt,' said David Blanchflower, a former Bank of England Monetary Policy Committee member"] (Bloomberg)

Is Europe heading for recession and dragging Britain down with it? (The Mirror) Why the eurozone's woes could hurt the UK: Growth in the single currency bloc has ground to a halt, but how does this affect the UK? (The Telegraph)

Weakness in Eurozone, Asia pose risks to U.S. economy (The Los Angeles Times)

One More Thing to Worry About [in the US Financial Industry] (The Mess That Greenspan Made blog) One of the biggest cracks in the financial system still isn’t fixed (Quartz)

     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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