Tuesday, March 10, 2015

Tuesday roundup (03-10-15)

European Union grants France two year deficit extension (The BBC)

Facing cash crunch, Greece set to tap into bank rescue fund - sources (Reuters)

Germany used legal tricks to avoid WW2 reparations: Greece (Reuters)

Spain Faces Challenges to Meet Deficit Target as Elections Loom (Bloomberg)

China Focus: Consumer prices pick up in Feb., but deflation risk looms (Xinhua)

​America's skyrocketing credit card debt (CBSMoneywatch)

White House Floats Bankruptcy Process for Some Student Debt: Current law largely prohibits federal, private loans from being discharged in bankruptcy (The Wall Street Journal)

Target layoffs will hit 1,700 today, with another 1,400 jobs going unfilled (The Star Tribune of Minneapolis, Minnesota) Target eliminating more than 3,000 jobs (The Associated Press)

Aerojet to cut 10 percent of workforce [= 500], including 250 jobs in Sacramento area (The Sacramento Bee)

     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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