Monday, April 27, 2015

Monday roundup (04-27-15)

When QE Leads To Deflation: A Look At The "Confounding" Global Supply Glut (ZeroHedge blog)

Death toll tops 4,300 in Nepal earthquake (The Washington Post) Nepal Earthquake Triggers Substantial Economic Aftershock: Wide-spread destruction is not what one of the world's poorest nations needed only weeks before monsoon season. (US News & World Report)

Greece Says It Is Changing Team That Negotiates With Creditors (The New York Times) Greek creditors rule out massive new bail-out as embattled Varoufakis is sidelined: Prime Minister Alexis Tsipras shuffles his bail-out personnel team as clock ticks in debt drama (The Telegraph) Why Greece Could Now Tiptoe Toward a Deal (The Wall Street Journal blogs)

If Greece falls, no one wants their prints on the murder weapon (Reuters)

Why you should be really, really, worried about a Greek default [= "In an afternoon, the international banking system could collapse."] (The American Thinker blog) Uncertainty Over Impact of a Default by Greece (The New York Times blogs)

Fitch downgrades Japan's credit rating: Ratings agency Fitch has cut the country's sovereign credit rating, saying the government of PM Shinzo Abe has not taken enough measures to plug a budget gap left by its decision to delay a consumption tax rise. (Deutsche Welle) Fitch downgrades Japan, joins Moody's in warning on fiscal policy (Reuters)

Market liquidity drought raises alarm bells inside Fed (Reuters) The market is getting nervous about something experts are struggling to define (The Business Insider)

[US Sen. Elizabeth] Warren Lays Out Detailed Plan to Take on Wall Street [April 15] (American Banker) Warren's Wall Street Reforms Would Just Make Banks Riskier (American Banker) [presented here solely to show how those who side with the big banks argue]

NYSE Margin Debt Hits an All-Time High (Advisor Perspectives)

Newfoundland to cut 1,420 public service jobs over next five years (The Canadian Press)

     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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