Sunday, March 22, 2015

Sunday roundup (03-22-15)

Sarkozy staves off the French far right (The Independent)

Greek PM warns Merkel of 'impossible' debt obligation: FT (Reuters)

In Greece, Syriza Struggles to Deliver Promises as Money Runs Out (The New York Times)

Falling energy and food prices push UK towards deflation: Analysts expect inflation is likely to have fallen to 0.1% with some predicting that figures could show a negative reading (The Guardian) Households set for spending power boost as inflation is set to near ZERO per cent - but spectre of deflation hangs over Britain (This is Money)

Britons borrow more than ever before: The economic recovery and increased job security has seen borrowing exceed pre-recession levels, Pricewaterhousecoopers says (The Telegraph) Average UK household to be £10,000 in debt by end of 2016: Report warns that people’s complacency over their ability to manage their borrowing could lead to resurgence in bad debt (The Guardian)

     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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