Thursday, March 26, 2015

Thursday roundup (03-26-15)

[Global] Financial Markets Becoming More Fragile, Says Bank of England: Central bank joins regulators and investors voicing concern about market liquidity (The Wall Street Journal) BOE Sees Liquidity Dangers as Greece Threatens Market Stability (Bloomberg)

Risk-shy banks and companies keep euro zone credit on tight leash (Reuters)

Pressure rises on Greece as savers drain bank deposits (The Associated Press) Deposits in Greek banks fell by $8.60 billion in February: ECB data (Reuters)

Data show how Greek bank run loomed before bailout extension deal [The Financial Times via] (CNBC)

Greece maintains claim to 1.2 bln euros in euro zone bailout fund (Reuters)

What Alexis Tsipras Must Do to Keep Greece in the Eurozone: It will soon become clear [= in "the next few days"] if Greece is going to stay in eurozone. (The Wall Street Journal)

Saudi battle for Yemen exposes fragility of global oil supply: OPEC's oil giant has daggers drawn with Iran, is encircled by enemies, and now faces a failed state on its southern border by Ambrose Evans-Pritchard (The Telegraph)

Alberta Budget Deficit [in Canada's Biggest Oil-Producing Region] Soars to Record on Oil Collapse (Bloomberg)

The End of a Cycle in Latin America and its Associated Risks (The Brookings Institution)

Things that will happen if Venezuela implodes (CNBC)

U.S. Home Prices Are Surging 13 Times Faster Than Wages: You can blame investors for that (Bloomberg) Wage growth lags far behind home prices, report finds (The Los Angeles Times)

     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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