Saturday, February 14, 2015

Saturday roundup (02-14-15)

Greek drama puts eurozone at risk: The outbreak of investor optimism that greeted signs of progress for Greece and Ukraine rests on fragile foundations (The Telegraph)

[In the United States,] Unofficial Problem Bank list declines to 386 Institutions (Calculated Risk blog)

Capitol City Bank & Trust Co, Georgia, Collapses – Largest Bank Failure of 2015 [as posted here yesterday] (Problem Bank List)

Tesco [Britain's biggest retailer] to cut up to 10,000 jobs: Thousands of staff face the axe at Tesco offices and in stores as chief executive Dave Lewis looks to cut costs (The Telegraph)

Oil and gas layoffs not yet showing up in jobless totals (Gannett Louisiana)

     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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