Monday, February 9, 2015

Monday roundup (02-09-15)

The World's Best Known Global Shipping Index has Crashed To Its Lowest Level Ever (ZeroHedge blog)

US defends unruly Greece as Europe steps up 'Grexit' threats: Germany’s vice-chancellor said "zero chances" that his country will respond to Greek demand for Nazi war reparations by Ambrose Evans-Pritchard (The Telegraph)

Greece's leaders stun Europe with escalating defiance: "The euro is like a house of cards. If you pull away the Greek card, they all come down,” says Yanis Varoufakis, the Greek finance minister by Ambrose Evans-Pritchard (The Telegraph)

Cameron holds emergency talks as fears rise of Greek exit from eurozone (The Herald of Glasgow, Scotland)

Historically speaking, Germany a bigger deadbeat than Greece: Germany's debt defaults after the two world wars dwarf anything Greece has done, economists say (The Canadian Broadcasting Corporation)

     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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