Wednesday, February 11, 2015

Wednesday roundup (02-11-15)

Greece and eurozone in stalemate over debt burden: First serious negotiations between country and EU finance ministers fail even to build framework for future talks (The Guardian) Greece and EU Vow to Keep Talking: Eurozone Finance Ministers Make No Joint Statement After Six Hours But Hope for Plan by Monday (The Wall Street Journal) EU, Greece bailout talks falter (CNBC)

If the Greek olive branch is rejected, Europe may fall: The new despots who are trying to persuade us that Europe’s problem is Greece are putting the European project itself at risk (The Guardian)

Germany faces impossible choice as Greek austerity revolt spreads: EU elites who forced a currency experiment on countries [= Portugal, Italy, Greece, Spain?] not ready for it have only themselves to blame by Ambrose Evans-Pritchard (The Telegraph)

China's Pile of Debt Keeps Rising: Why disinflation raises debt stakes for China (Bloomberg)

FMC Technologies to cut about 2,000 jobs (fuelfix blogs)

Kennametal offers buyouts to 1,000 U.S. white-collar workers (TribLive)

Target laying off 550 in Minneapolis after Canada failure (Twin Cities Pioneer Press)

     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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