Saturday, September 27, 2014

Saturday roundup (09-27-14)

Quotes of the Day:

"The rebound that we were all expecting in this year hasn’t happened. The consumer has not bounced back with the confidence that we were all looking for." -- Macy’s CEO Terry Lundgren at the Goldman Sachs Annual Retail Conference. (The Robin Report)

"The consumer is still not out of the pressure zone. They’re still below their comfort zone." -- Paul Swinand, an analyst at Morningstar Inc. in Chicago. (Bloomberg)

[And why? Perhaps because ...] "Every group surveyed by the Federal Reserve Board had a lower mean income in 2013 than they did in 2007." -- The Business Insider (Yahoo! Finance)

A Radical Response: 'The Shifts and the Shocks,' by Martin Wolf (The New York Times)

Europe’s Austerity Zombies by Joseph E. Stiglitz (Project Syndicate)

Secret tapes of Fed meetings on Goldman prompt call for U.S. hearings (Reuters)

Unofficial Problem Bank list declines to 432 Institutions (Calculated Risk blog)

     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.

No comments:

Post a Comment