Wednesday, March 25, 2015

Wednesday roundup (03-25-15)

Is public debt a problem around the world?: Global debt—the money owed by the world's businesses, governments and households—now stands at almost $200 trillion. It has grown by almost $60 trillion since the global financial crisis of 2008. Almost half of that $60 trillion is made up of government debt. So should we be worried? Keri Phillips investigates. (The Australian Broadcasting Corporation)

Greece fails in bid for early cash release [to help stave off potential bankruptcy next month], reforms awaited (Reuters)

Taiwan Rate-Rise Forecasts Ditched Amid Deflation, Global Easing (Bloomberg)

Spending by U.S. businesses fell for a sixth straight month in February [Reuters via] (Fortune) Factories in U.S. Feel Pain of Rising Dollar, Slump in Oil (Bloomberg)

The Republican Budget Opens Taxpayers' Wallets to Bail Out Wall Street - Again (The Huffington Post)

Emergency Managers Say Atlantic City Must Make Big Budget Cuts: Report says city needs to slash workforce, make other cuts to close $101 million budget shortfall (The Wall Street Journal) Atlantic City bankruptcy ‘inevitable’, source says (PolitickerNJ)

Wells Fargo to cut 1,000 jobs, shut Milwaukee home-lending office (Reuters)

GE expands job cuts at Lufkin oil unit to 575 from 330 (Reuters)

Worthington Industries to lay off 555 nationwide, including 80 in Fairfield County: Strong dollar, reductions in oil and gas industry pressure company (The Columbus Dispatch of Columbus, Ohio)

     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.

No comments:

Post a Comment