Friday, March 13, 2015

Friday roundup (03-13-15)

The price of oil is heading down again after 'head fake' rally; price of gas likely to follow (The Associated Press) IEA sees renewed pressure on oil prices as glut worsens (Reuters)

Varoufakis unsettles Germans with admission Greece won't repay debts (Reuters) Greco-German relations reach breaking point as ECB warned to stop 'asphyxiating' Athens: Both sides trade insults as Yanis Varoufakis chastises ECB and Germany accuses Leftist government of "squandering trust" [March 12] (The Telegraph)

Majority of Germans Want Greece Out of Eurozone (Newsweek)

Greece debt talks are too slow, says EC chief Juncker (The BBC)

Greek defense minister: If Greece leaves euro zone, Spain and Italy would be next (Reuters)

EU executive warns of Grexit 'catastrophe', urges euro solidarity (Reuters)

Polish Deflation Deepens as February Drop Tops Estimates (Bloomberg)

Producer prices [in the United States] fall for 4th straight month in sign of low inflation (The Los Angeles Times) Wholesale Prices in U.S. Unexpectedly Fall for Fourth Month (Bloomberg) U.S. producer inflation is less than zero (Marketwatch)

Consumer sentiment misses expectations in March (CNBC)

Into the breach again: U.S. debt to hit legal limit on Monday (Marketwatch) As U.S. hits debt limit, Treasury takes steps to extend borrowing (The Los Angeles Times)

U.S. Is Seeking Billions From Global Banks in Currency Manipulation Settlement (Bloomberg)

Roughly 1,600 layoffs coming at Cypress/Spansion after merger — report (Silicon Valley 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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