Friday, April 24, 2015

Friday roundup (04-24-15)

Austerity has been an unmitigated disaster, and this proves it (The Washington Post blogs)

The Death of Cash: Could negative interest rates create an existential crisis for money itself? (Bloomberg)

After Antitrust Rumors, European Union Mulls Special Regulator for Internet Companies (Billboard)

Greek Finance Minister: It's not complicated – we just have to convince our creditors we're right, and they have to realize they're wrong (The Business Insider)

Greece bailout deal elusive, 'significant' work needed (The Associated Press) Greece Under Fire From Creditors As Bailout Talks Drag On (The Associated Press) Greece: 'Big, big problems' for debt deal [says Eurogroup head] (The BBC) Eurozone Ministers Admonish Greece for Slow Progress on Overhauls (The New York Times)

‘Time Is Running Out’ in Greek Bailout Talks, Says Mario Draghi (The Wall Street Journal blogs) Time running out, eurogroup chief warns Greece: Greece must speed-up reforms to unlock any bailout cash, senior EU officials warn (The Irish Times) Euro zone warns Greece no cash till full reform deal (Reuters)

Greek debts: what does it owe? When will the money run out?: Greece owes money to the International Monetary Fund, the European Central Bank and the European Union following its two bailouts in 2010 and 2012 (The Guardian) Greece’s Scary Calendar of Debt Payments Due: A relentless payment schedule through July (Bloomberg)

Weak U.S. business spending data hints at sluggish growth rebound (Reuters)

Net neutrality and Netflix help quash Comcast merger bid (USAToday) The Most Hated Merger in America: Customers, companies, and even regulators mistrust Comcast. No wonder its deal to buy Time Warner Cable fell apart. (Slate) Americans Get Their Revenge on Comcast: It turns out you can't be the so-called "worst company in America" without some blowback. That's a good thing. (PCMag)

Hillary Wants a Piece of the Elizabeth Warren Love Fest: Clinton has praised progressives' favorite senator, but has yet to endorse her proposals. (Mother Jones)

We Can’t Let John Deere Destroy the Very Idea of Ownership (Wired)

Local IT firm to cut 1,800 jobs as part of reorganization plan (The Philadelphia Business Journal)

     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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