Thursday, September 25, 2014

Thursday roundup (09-25-14)

The ECB's Plan To Do 'Whatever It Takes' To Save Europe Is Not Going To Work (The Business Insider)

German Central Bank Head Weidmann: 'The Euro Crisis Is Not Yet Behind Us': An extended period of calm on the bond markets has led many to conclude the euro crisis is over. But German central bank head Jens Weidmann says in an interview that the coast still isn't clear and that there is still great need for reforms. (Spiegel Online)

Italy to cut 2014, 2015 GDP forecasts, hike deficit goals - source (Reuters)

Austerity [in the UK] ‘to last five more years and get even tougher’ (The Times of London)

Watch US inflation expectations [= they're falling] (Sober Look blog)

Obama Announces Attorney General Eric Holder's Resignation (ABCNews) Eric Holder: Why I didn’t lock up any Wall Street execs (Marketwatch) Eric Holder Angered Wall Street Banks, and Their Critics (Bloomberg Businessweek) Eric Holder’s Shameful Legacy on Wall Street Fraud [Sept. 19] (The Fiscal Times) THE CHICAGO WAY: JUSTICE FOR SALE AT HOLDER'S DOJ [May 7, 2012] (Breitbart)

U.S. public pension gap at least $2 trillion - Moody's (Reuters)

5 U.S. Banks Each Have More Than $40,000,000,000,000.00 In Exposure To Derivatives (Cliff Küle’s Notes blog)

Why the Rockefellers Rejected Big Oil: Their name is synonymous with oil, but the descendants of John D. Rockefeller are divesting from fossil fuels—joining a few other heirs who turned their backs on the family business. (The Daily Beast)

     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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