Tuesday, February 17, 2015

Tuesday roundup (02-17-15)

Greece will not compromise with euro zone, Tsipras says (Reuters)

Greek Banks Need More Emergency Funds (Bloomberg) Q and A: A struggling Eurozone state, its debt, and its banking system (CityAM) Hans-Werner Sinn: "Impose Capital Controls In Greece Now To Avoid Another Cyprus" (ZeroHedge blog)

Crucial Talks Over Greece's Debt Broke Down. What's Next? (The Associated Press) Greece bailout talks: the options: European capitals and financial markets assume that a deal will be done but with 72 hours to find a solution, the possible outcomes are limited (The Guardian blogs)

The only way for Greece is out of the eurozone: Greece’s new government must bite the bullet, declare itself bankrupt and break free from the eurozone – only then can its economy and society recover (The Guardian)

Former White House Budget Director [David Stockman] Warns Greek Crisis Now Threatening The Entire Global Financial System (King World News)

Inflation [in the UK] tumbles to record low (The Press Association)

Chinese home prices fall for ninth month (The BBC)

[In the United States,] Inequality Has Actually Not Risen Since the Financial Crisis (The New York Times)

GOP Congress On The Verge Of A Meltdown (Forbes)

U.S. energy companies slash jobs as oil prices slump (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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