Friday, April 17, 2015

Friday roundup (04-17-15)

G-20 Warns of Threats to Global Economic Recovery (Dow Jones Newswires)

EU prepares rules for tackling failed financial firms outside banking (Reuters)

Looming Greek 'crunch' threatens fresh global crisis, warns Osborne: Chancellor says a miscalculation from either side could plunge Europe back into full-blown turmoil by Ambrose Evans-Pritchard (The Telegraph) [Also] White House urges Greece to reach agreement on bailout terms with the EU: The US administration has urged Greece to move quickly with negotiations and reach an agreement with the EU on terms for its bailout. A failure could lead to a crisis in the world economy. (Deutsche Welle)

Greece Enters Twilight Zone as Visions of Euro Exit Take Shape (Bloomberg)

Greek Economic Crisis: Three Things to Know (The Council on Foreign Relations)

Why It's Proving Hard to Save Greece (ABCNews)

China's economy is losing altitude fast (CBSMoneywatch)

Key Measures Show Low [US] Inflation in March (Calculated Risk blog)

Finance Is to Blame for Rise in Inequality: America’s system to allocate capital investment is rigged [April 12] (Time)

5 biggest banks [= JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and U.S. Bancorp] now own almost half the industry (CNBC)

No More Cheating: Restoring the Rule of Law in Financial Markets by Simon Johnson (Baseline Scenario)

New Jersey Cut by Moody’s as Christie Gets Ninth Debt Downgrade (Bloomberg)

Gwyneth Paltrow fails $29 food stamp challenge (CNBC)

     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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