Monday, February 23, 2015

Monday roundup (02-23-15)

This Is The Biggest Problem Facing The World Today: 9 Countries Have Debt-To-GDP Over 300% [= Japan (400%), Ireland (390%), Singapore (382%), Portugal (358%), Belgium (327%), Netherlands (325%), Greece (317%), Spain (313%), and Denmark (302%)] (ZeroHedge blog)

France seeks to delay deficit target until 2018 - [according to Germany's business daily] Handelsblatt (Reuters)

Greece delays sending reforms to euro zone till Tuesday (Reuters)

Greece: We'll fight on against austerity (CNNMoney)

Why Greece will never repay its debt (CNBC)

Hard times ahead for Ukraine with massive job cuts and price hikes on the way (euronews)

One-Third of Americans Living on Financial Edge (NBCNews)

U.S. Banks Hoard $2 Trillion of Ultra-Safe Bonds (Bloomberg)

Oilfield services company [= Archer Ltd] to cut 1,000 jobs (The Houston Business 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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