Wednesday, August 13, 2014

Wednesday roundup (08-13-14)

Will A Global Slowdown Blindside Bulls? (The Wall Street Journal blogs)

Unexpected drop in euro zone output clouds recovery hopes (Reuters) Euro-zone industrial production falls again (Marketwatch)

One-in-three chance the ECB conducts QE next year: Reuters poll (Reuters)

The calm before the eurozone storm (Business Spectator)

French deflation fears rise as prices fall (The Local)

French lawmaker says 'unavoidable' to scrap deficit target: Les Echos (Reuters)

Now even German inflation tumbles as eurozone struck by ‘lowflation’ gloom: German price growth has fallen to an 0.8pc low as IMF staff warn that "lowflation" could damage the euro area as a whole (The Telegraph)

Italy's Renzi must bring back the lira to end depression: It is an incontrovertible fact that Italy’s 14-year disaster coincides with EMU membership by Ambrose Evans-Pritchard (The Telegraph)

Hidebound Italian economy presents dilemma for ECB (The Associated Press)

Eurozone woes deepen as Spain's industry slumps: Production declined across the 18 eurozone members by an average 0.3%, with Spain's industrial production declining 0.8% (The Guardian)

Don't repeat mistakes of Irish bailout, former IMF official warns Portugal (Reuters)

Japan GDP growth collapses amid sales tax shock (CNNMoney) Japan's Economy Shrinks In Q2 From Higher Sales Tax Effect, Stokes Deflation Fears (International Business Times) Japan firms finally get pricing power just as economic growth sputters (Reuters)

Worst drought in half a century hits China’s bread-basket (Marketwatch)

Cry for Argentina: Fiscal Mismanagement, Odious Debt or Pillage? by Ellen Brown (The Web of Debt blog) Hedge Fund vs. Sovereign: How U.S. Courts Are Upending International Finance by Felix Salmon [June 24] (Foreign Affairs)

[In the US,] Worst Retail Sales Showing in Six Months in Slow Start to Third Quarter (Bloomberg)

Yellen resolved to avoid raising rates too soon, fearing downturn (Reuters)

Lobbyists Are Seeking to Delay for Years a Key Piece of Bank Regulation (Moyers & Company)

Strong Storms Shatter Records on Long Island, Cars Nearly Submerged (NBCNews)

Cisco to cut another 6,000 jobs as forecast falls flat (Reuters)

     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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