Saturday, February 28, 2015

Saturday roundup (02-28-15)

Humiliated Greece eyes Byzantine pivot as crisis deepens: Neither side holds the upper hand in the strategic game of chicken which could still see Greece forced out of the euro by Ambrose Evans-Pritchard (The Telegraph)

What Greece Has to Do Now: Fix Its Economy (The Harvard Business Review)

China cuts rates again in face of weak demand, deflation risk (Reuters)

Study: Suicide Rise In Middle-Age Adults [in the United States] Linked To Recession (CBS DC)

February 2015: Unofficial Problem Bank list declines to 357 Institutions (Calculated Risk blog) [Meanwhile,] Number of Problem Banks [Within the OFFICIAL list] Declines for 15th Consecutive Quarter (Problem Bank List)

Doral Bank Collapses After Years of Financial Losses – Largest Bank Failure Since 2010 [-- failure posted here yesterday] (Problem Bank List)

RBS to Cut More Than 1,000 Jobs at U.S. Trading Unit, CFO Says (Bloomberg)

Dresser-Rand plans major job cuts [of almost 650 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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