Tuesday, March 24, 2015

Tuesday roundup (03-24-15)

The world's next credit crunch could make 2008 look like a hiccup: Is this why central bankers are so scared of raising interest rates? (The Telegraph)

Economic Crisis in France: France doesn't seem able to escape its debt troubles. Despite that, the European Commission has given the country more time to reduce its deficit – but that hasn't stopped the brain drain of young professionals. (Deutsche Welle)

Greece to run out of cash by April 20 without fresh aid - source (Reuters)

George Soros: Greece is now a lose-lose game: It's possible that the troubled country will leave the eurozone, according to the billionaire investor (The Telegraph)

Ukraine Credit Rating Cut to Second-Lowest Level by Moody’s (Bloomberg)

Ukraine needs 'significant' debt reduction: source close to debt talks (Reuters) Ukraine pleads for quick restructuring of debts: Finance minister Natalie Jaresko wants to see debt cut and interest on remainder reduced so Ukraine can move towards stability (The Guardian) Ukraine Asks Creditors to Reach Deal Now or Risk Bigger Cuts (Bloomberg) Kremlin heads for collision course with Ukraine over debt haircut: Kiev’s finance minister insists the country has no choice but to restructure $3bn owed to Moscow (The Telegraph)

Fed's Bullard says zero U.S. rates no longer appropriate (Reuters) Fed's Bullard sees roaring boom for US economy, but nasty shock for markets: Investors are betting that the Federal Reserve will take its time before pulling the trigger on interest rate rises. Fed insiders warn that this may be a mistake. by Ambrose Evans-Pritchard (The Telegraph)

The Economics of California's Drought: What happens when the country's largest state runs low on water? (The Atlantic)

Poland's Alior to lay off up to 1,000 workers after merger with Meritum (Reuters)

     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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