Thursday, April 23, 2015

Thursday roundup (04-23-15)

Eurozone economy slows in April, PMIs show (Marketwatch) Euro zone recovery just got a 'reality check' (CNBC)

ECB's Praet urges countries to reform for recovery to last (Reuters)

Deutsche Bank hit with $2.5B fine due to rate rigging (CNBC)

Greeks Trapped in Financial Vise as Euro Region Turns the Screws (Bloomberg)

Greek bailout talks could go on for weeks more amid shifting deadlines and financing needs (The Associated Press)

US alarmed by Greek energy alliance with Russia: American pushes for an alternative gas pipeline from Azerbaijan that would help break the stranglehold that Russia has on European markets by Ambrose Evans-Pritchard (The Telegraph)

Germany is becoming relaxed about a Grexit – perhaps too relaxed: Many EU member states and the US still fear the consequences of Greece leaving Europe. They need to get their voices heard in Berlin (The Guardian)

"China Has A Massive Debt Problem", And Why It Is About Get Much Massiver (ZeroHedge blog)

Reich: Hillary Clinton and everyday Americans by Robert Reich (SFGate)

Comcast abandoning plan to merge with Time Warner Cable (CNNMoney) Two Regulatory Probes Proved Too Much (Dow Jones Newswires)

Largest Bank In America Joins War On Cash (ZeroHedge blog)

P&G to cut thousands of jobs [= "another 3,000 to 6,000 office jobs worldwide in the next two years"] in next 2 years (The Cincinnati Enquirer) [This is because:] Procter & Gamble's sales fall for fifth straight quarter (Reuters)

Mullen cuts 1,000 employees as oil crash hits service sector (The Calgary Herald)

[UK's] Sainsbury to Cut 800 Store Jobs as Part of Cost-Cutting Drive (Bloomberg)

Ford to cut about 700 jobs in Michigan ["as Americans shun smaller vehicles amid low gasoline prices"] (Marketwatch)

     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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