Friday, February 13, 2015

Friday roundup (02-13-15)

Man Who Predicted Collapse Of Euro Against Swiss Franc Warns Current Global Financial System Will Cease To Exist (King World News)

Inflation is dead: It’s below 1 percent in the U.S., U.K., Europe, China, and Japan (The Washington Post blogs)

Mega-droughts to become the new normal (CBSNews)

Italy is Europe’s ticking time bomb (The Washington Post blogs)

Greek Euro Exit Would Be 'Catastrophic,' Rickards Says: James Rickards, chief global strategist at West Shore Funds, and Sebastien Galy, senior currency strategist for Societe General, talk about the outlook for a compromise in the standoff between Greece and the European Union over Greece's debt bailout. They speak with Trish Regan on Bloomberg Television's "Street Smart." (Bloomberg)

White House warns Europe on Greek showdown: Washington blames Europe for the lack of global recovery and is losing its patience with EMU creditor states that fail to pull their weight by Ambrose Evans-Pritchard (The Telegraph)

Greek failure to pay official lenders could trigger CDS payments - lawyers (Reuters)

New Ukraine Bailout Deal May Mean MultiBillion-Dollar Pain for Creditors (The Wall Street Journal blogs)

The Fed Theoretically Can Never Raise Rates: Rickards: West Shore Funds' James Rickards, author of "The Death of Money," discusses the currency wars and Fed policy with Bloomberg's Trish Regan on "Street Smart." (Bloomberg)

US Regulators Close Small Georgia Bank (The Associated Press) Capitol City Bank & Trust Company of Atlanta GA had a troubled assets ratio of 454.3 percent. (BankTracker)

United Airlines to cut about 1,150 jobs at 16 U.S. airports (Reuters)

     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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