Wednesday, September 10, 2014

Wednesday roundup (09-10-14)

Europe has to do whatever it takes: The new European Commission needs to take a stand for common sense and growth (The Financial Times)

France breaks 2015 deficit-cutting promise (Reuters) France Won’t Meet Budget Deficit Target Until 2017, Government Warns (The New York Times)

Greek deflation slows in August, prices decline for 18th month (ekathimerini)

In Japan's Economic Folly, A Lesson For U.S. (Investors Business Daily)

More car owners [in the United States] fall behind on auto loan payments (USAToday)

Student debt: Not just a young person’s problem anymore (McClatchy Washington Bureau) Education debt not just for the young _ seniors increasingly struggle to pay back loans (The Associated Press)

Mortgage applications plunge to 14-year low (CNBC)

Senator [Elizabeth] Warren Sept 9 2014: On lack of bank prosecution referrals following financial crimes. (C-span)

Elizabeth Warren on citizenz united (C-span)

The Biggest Lie of the New Century (BloombergView)

     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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