Wednesday, August 27, 2014

Wednesday roundup (08-27-14)

Deflationary Fears Are Spreading Globally (Financial Sense)

Eurozone Borrowing Costs Fall To Record Lows (Agence France Presse)

Ailing eurozone suffers another setback as international crises wipe out consumer confidence in Germany 'in one fell swoop' (This is Money)

Italy says will cut growth forecast, consumer morale falls (Reuters)

[In the United States,] CBO forecasts $506 billion budget deficit for 2014 (Marketwatch)

Ben Bernanke: The 2008 Financial Crisis Was Worse Than The Great Depression (Forbes) Bernanke: 2008 Meltdown Was Worse Than Great Depression (The Wall Street Journal blogs)

Big banks are still "too big" [commentary] (USAToday)

Market Basket [grocery chain in New England] weighs closing 
61 stores if deal falls through (The Boston Herald) Will Demoulas saga's next chapter involve bankruptcy? (The Lowell Sun) What’s taking so long with Market Basket [in its attempt to reach an agreement to sell the company]? (The Boston Globe)

     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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