Friday, March 27, 2015

Friday roundup (03-27-15)

Countries Still Have Way Too Much Debt: Whalen: Kroll Bond Rating Agency Senior Managing Director and Head of Research Christopher Whalen discusses the European and U.S. economies, Greece's debt bailout and why he says QE isn't going to work. He speaks to Bloomberg's Manus Cranny and Caroline Hyde on "Countdown." (Bloomberg)

ECB's Weidmann says euro zone debt in 'danger zone': Debt in the euro zone has entered the "danger zone", the head of Germany's Bundesbank said on Friday, calling for banks' exposure to the debt of individual countries to be capped. (The Irish Independent)

Low interest rates causing 'huge problems' in Germany: Schaeuble (Reuters)

Greece submits reform proposals to eurozone creditors – with a warning: As the EU, ECB and IMF pore over Athens’s latest attempt to unlock financial aid, minister says country is prepared to go it alone ‘if things do not go well’ (The Guardian)

Fitch downgrades Greece amid uncertainty over new government's bailout reforms (The Associated Press)

Portugal's public debt reaches over 130 pct of GDP last year (Xinhua)

Japan nears deflation as consumer prices stop rising (The BBC)

Brazil's economy sputters, grows 0.1% in 2014 (Marketwatch)

Mexico Keeps Key Rate at Record Low 3% on Economic Weakness (Bloomberg)

Yellen says rate increase may be warranted later in year (The Washington Post)

Note To Senator Warren: Citigroup Is Spying On You (FoxBusiness)

Senate Takes Swing at Big Banks (The Wall Street Journal blogs)

"I'm Not Stupid" Monsanto Lobbyist Refuses To Drink Weedkiller After Proclaiming "It Won't Hurt You" (ZeroHedge blog) Lobbyist Claims Monsanto's Roundup Is Safe To Drink, Freaks Out When Offered A Glass (Youtube)

     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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