Monday, March 16, 2015

Monday roundup (03-16-15)

"An 'Old-Fashioned' Recession Is Spreading Across The World," Billionaire Hedge Fund Manager Warns (ZeroHedge blog)

Draghi’s Latest Pledge Pushes Yields Closer to Zero (excerpt) (Dr Ed's Blog)

The Greek Problem Is That It's Already In Breach Of The Bailout Deal (Forbes)

Spain pressures Greece to keep promises in debt crisis (Agence France Presse)

Germany wants to kick Greece out of the eurozone (The Business Insider) [versus] Germany still wants to keep Greece in euro zone - spokesman (Reuters) Merkel invites Greek PM to Berlin as tensions simmer (Reuters)

Bailout fund head says all govts want Greece in euro zone - Le Monde (Reuters) French EU Commissioner Moscovici: 'A Grexit Would Be a Catastrophe': In an interview, EU currency commissioner Pierre Moscovici, 57, discusses efforts in Brussels to ensure that Greece remains in the euro zone and why he believes a Greek exit would be a disaster for Europe. (Spiegel Online)

Italy public debt up to 2.166 trillion, near record [March 13] (Gazzetta del Sud)

Portugal’s public debt reaches 231.1 billion euros (macauhub)

As British Election Nears, Cameron Promises Another Dose of Austerity (The New York Times)

India wholesale price deflation accelerates much more than expected (International Business Times)

Bank of Japan to maintain aggressive stimulus, recovery view (Reuters) BOJ Must Adopt Pay Goal as Deflation Looms, Price Professor Says (Bloomberg)

US to hit debt ceiling again, and this time could be worse (CNBC) What a Debt-Limit Showdown in Congress Could Cost the U.S. Economy: Here's what's at stake if this year's debt-limit deliberations give us déjà vu (Bloomberg) As Government Hits Debt Ceiling, Treasury Taps Federal Pensions (The Fiscal Times)

Manufacturing output takes surprise dip in February (Reuters) Factory Cutbacks in February Held Back U.S. Growth: Economy (Bloomberg)

     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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