Tuesday, August 19, 2014

Tuesday roundup (08-19-14)

Too little reform, central bank risk and banking fraud - have we [in Europe and the US] not learnt anything?: The Federal Reserve has become a rogue hedge fund, taking massive, wildly speculative positions (The Independent)

ECB in policy limbo, boxed in by its own plans (Reuters)

European Austerity Is a Myth (BloombergView)

Recovery Mirage in Spain Dissipates Into Ashes (Mish's Global Economic Trend Analysis blog)

UK inflation falls more than expected; 2014 rate rise less likely (Reuters)

[And also in the United States,] Key Measures Show Low Inflation in July (Calculated Risk blog)

Nearly Half of Americans Think the Recession Is Not Over (Bloomberg)

'Is it safe to hire?' Business owners don't trust recovery (CNNMoney)

Uneven Housing Data Likely Still Concerning for Fed: New home construction is up 21.7 percent from a year ago, but demand isn't where economists had hoped. (U. S. News & World Report)

Should big banks be broken up?: YES: It would help regulation and diminish risk (The Sun Sentinel of Fort Lauderdale, Florida)

     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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