Friday, March 6, 2015

Friday roundup (03-06-15)

3 of the world's most powerful money managers are saying some scary things about the world (The Business Insider)

Unemployment in France hits 16-year-high; still rising: The second-largest economy in the Eurozone has been battling a ballooning deficit, sputtering economic growth and faltering confidence in President Francois Hollande. (United Press International)

Europe holds 'noose around Greek necks' as Athens scrambles to make debt payments: Alexis Tsipras says the European Central Bank is strangling the Greek economy as panic grips the cash-strapped government (The Telegraph)

Greece Poised for Recession as Uncertainty Takes Its Toll (The Associated Press)

Greece wants immediate talks with Troika on bailout, eyes follow-up deal (Reuters)

Greece's new promises to the Eurozone: we'll hire tourists and cleaners as undercover tax inspectors and license online gambling (The Independent)

Why the markets are haunted by the spectre of deflation: With consumer spending, interest rates and bond yields all anchored at low levels, are we [in the UK] on the brink of a damaging long-term deflationary spiral? (The Telegraph)

Strong U.S. jobs report raises pressure on Fed to boost rates: Economy adds 295k jobs; drop-outs help lower rate to 5.5 percent (The Washington Times) The New Jobs Report Shows Janet Yellen’s Quandary in a Nutshell (The New York Times) Data brings more focus on timing of U.S. rate hike (Reuters)

Fed: Banks could lose $490 billion in next crisis (CNNMoney)

SAP to cut 2,250 posts while creating similar number in refocusing (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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