Thursday, April 2, 2015

Thursday roundup (04-02-15)

European Central Bank determined to stick with stimulus plan (The Associated Press)

Why the eurozone recovery needs German intervention: Berlin should adopt policies that boost Germany’s domestic spending and reduce its large surplus, otherwise upturn in single currency bloc may not be able to weather the wealth of threats it faces both inside and outside Europe by Nouriel Roubini [Project Syndicate via] (The Guardian)

Get up to speed with the Greek debt crisis 3.0 (CNNMoney)

We will go bankrupt in a week, Greece warns creditors as trust frays in debt drama: Athens officials say there is "no way" the country can stay float after April 9 (The Telegraph)

Greece's cash crunch could upset wider markets (Reuters)

Greece draws up drachma plans, prepares to miss IMF payment: 'We are a Left-wing government. If we have to choose between a default to the IMF or a default to our own people, it is a no-brainer,' says senior Greek official by Ambrose Evans-Pritchard (The Telegraph)

Japan on Brink of Another GDP Contraction (The Wall Street Journal blogs)

Atlanta Fed cuts U.S. growth forecast to zero (CNNMoney)

The Crisis of Black Unemployment: Still Higher Than Pre-Recession Levels [according to report was produced by the Economic Policy Institute] (The American Prospect)

What Everyone Should Know About the Student Debt Crisis (in 4 Charts) (The Huffington Post)

Half of Americans will see their standard of living fall in retirement (Marketwatch)

Martin O'Malley Wants to Be the Glass-Steagall Candidate: The former Maryland governor [, a Democrat,] escalated his attack on Wall Street as he mulls a run to Hillary Clinton's left. (Bloomberg) O’Malley steps up Wall Street critique in swing through Iowa (The Washington Post blogs) Martin O’Malley is running the campaign people want from Elizabeth Warren (Vox) Martin O’Malley Courts Elizabeth Warren Supporters In New Hampshire (Time)

Bernie Sanders: 'Banks are too big to fail, their CEOs are too big to jail' (The Business Insider) BERNIE SANDERS REPLACES ELIZABETH WARREN AS HILLARY ALTERNATIVE (Breitbart)

These Charts Show the Horrific Conditions That Forced California Into Water Rationing (Bloomberg)

     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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