Monday, April 20, 2015

Monday roundup (04-20-15)

How a world awash in debt devalues your money and quality of life by Satyajit Das (Marketwatch)

Greece debt crisis: Ticking time bomb as looming deadline sparks Eurozone jitters: GREECE is racing to have reforms approved in order to unlock a €7.2billion bailout loan before it goes bankrupt and sends the Eurozone into meltdown. (The Express)

Greece orders raid on government coffers as cash dwindles: Government issues emergency decree forcing all state bodies to transfer funds to the central bank (The Telegraph) Greece requisitions spare cash in dash to stay solvent (Reuters)

Greece is going to miss its own bailout deadline and the money is rapidly running out (The Business Insider)

Greek Bonds Look Uglier and Uglier: Inverted yield curve shows nobody wants Greek debt (Bloomberg)

We’ve ‘terminated’ our Greece exposure: Cyprus Finance Minister (CNBC)

Strong growth sees [Ireland's] national debt fall to [a mere?] 109% of GDP: Figures show Government debt stood at €203 billion in 2014, down from €215 billion the previous year (The Irish Times)

Fed's Dudley hopeful on rate hike [in the United States] this year (Reuters) Fed's Bill Dudley is alert to global liquidity storm, yet signals 3.5pc rates: Head of the New York Fed acknowledges that the institution has a special duty of care for the whole world by Ambrose Evans-Pritchard (The Telegraph)

The Economy Has Slowed Because the Fed Has Already Tightened (The Wall Street Journal blogs)

A revolt is growing as more people refuse to pay back student loans (The Washington Post)

Student Debt Accounts For Nearly Half Of US Government "Assets" (ZeroHedge blog)

[Sen. Elizabeth Warren:] “The Unfinished Business of Financial Reform”: Remarks at the Levy Institute’s 24th Annual Hyman P. Minsky Conference April 15, 2015 (US Senate)

5 Years After BP Oil Spill, Effects Linger And Recovery Is Slow: The 2010 explosion at the Deepwater Horizon rig set off an environmental and economic catastrophe. Towns and ecosystems along the Gulf Coast are still struggling to rebound. (National Public Radio) Five years after spill, Gulf Coast waits for fine money [April 17] (USAToday)



How the BP oil spill hurt Gulf Coast wildlife and livelihoods (PBSNewshour)



     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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