Friday, September 19, 2014

Friday roundup (09-19-14)

Quote of the Day:

[Speaking of the importance of money lending to offspring by baby-boomer parents in the US:] "Without them, the [housing] recovery’s not sustainable." -- Anika Khan, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina (Bloomberg

Another financial crisis is inevitable: Martin Wolf (Yahoo! Finance

Scotland Rejects Independence as U.K. Vows to Give It More Power (Bloomberg) Scotland stays in UK, but Britain faces change (Reuters) Scotland’s Independence Vote Shows a Global Crisis of the Elites (The New York Times

Most Of The U.S. Saw Little Recovery In 2013 (FiveThirtyEight

Why the Great Recession was even worse than you thought (MinnPost

The Fed Fesses Up: After Printing $3 Trillion It Sees No “Escape Velocity”……Ever! [Wolf Street via] (David Stockman's Contra Corner blog

College Debt Leaves Generation X Grads Less Wealthy Than Parents (Bloomberg

Watch California Dry Up Right Before Your Eyes In 6 Jaw-Dropping GIFs (The Huffington Post

     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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