Thursday, April 9, 2015

Thursday roundup (04-09-15)

Obama administration says global economy needs more support (The Associated Press)

Thousands join protests, strikes against French cutbacks (Reuters)

Bad debt at Italian banks rose to 187.3 bln euros in February (Reuters)

Greece dodges default with last minute IMF payment (The Australian Broadcasting Corporation) Greece makes IMF payment, gets bank funds, but doubts remain (Reuters) Don't be fooled by Greece making that IMF payment — the country is still marching into chaos (The Business Insider)

Eurozone: Six days for Greece to offer new reforms (The BBC)

Ireland and Greece unlikely to recoup vast bank bailout costs - ECB (Reuters)

Hungary's central bank will keep on cutting rates (Marketwatch)

Bank of England holds interest rates at 0.5% until after general election: Not since Clement Attlee’s Labour government was elected following the second world war have rates remained unchanged for the duration of a parliament (The Guardian)

Lagarde Warns of ‘Bumpy Ride’ as Fed Prepares for Rate Rise (Bloomberg)

Elizabeth Warren Is Right About Everything (Gawker)

Walgreens Aims to Close 200 Stores in America (The Associated Press) Walgreens to close 200 stores, boost cost cutting (USAToday)

     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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