Thursday, September 4, 2014

Thursday roundup (09-04-14)

ECB cuts rates to ward off euro zone deflation threat (Reuters) ECB surprises markets with rate cut, asset purchases (The Los Angeles Times) Draghi Sees Almost $1 Trillion Stimulus With No QE Fight (Bloomberg) ECB papers over rift with rate cuts but holds back on meaningful QE: Central bank launches radical plan to drive down the euro, but won't make any difference, warn analysts by Ambrose Evans-Pritchard (The Telegraph) Mario Draghi’s feeble attempt to save the eurozone is bound to fail: Cutting interest rates by 0.1pc will have virtually no impact on the eurozone economy at all (The Telegraph)

Europe's Descent Into Deflation (BloombergView)

Europe's Austerity-Fueled Depression Keeps Getting Worse (The Huffington Post)

Euro zone recovery very fragile, economies need reform - Eurogroup chief (Reuters)

Economic Inequality Continued To Rise In The U.S. After The Great Recession (FiveThirtyEight)

BP, found grossly negligent, may face $18 billion in gulf spill fines (The Los Angeles Times) U.S. court says BP 'grossly negligent' in 2010 spill, billions in fines loom (Reuters)

25% of Americans Have Medical Debt; 55% Worry About It: Bankrate.com (Insurance Journal)

     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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