Thursday, April 30, 2015

Thursday roundup (04-30-15)

Eurozone Consumer Prices Stopped Falling in April (The New York Times)

Eurozone recovery defies the odds but long-term problems remain: Spain’s economy is going like a rocket but unemployment is still the dark cloud that hangs over the euro area (The Guardian blogs)

Greek debt crisis: euro exit panic as pensioners start bank run [The Times of London via] (The Australian)

Defiant Greeks draw battle lines as Grexit crisis deepens: Athens Leftist government risks "unprecedented economic contraction" as it insists it will not cross "red lines" on its electoral promises (The Telegraph) Grexit could cause a recession [in Greece itself] 'of unprecedented magnitude' and a 50% currency devaluation (The Business Insider)

Greece signals concessions in crunch talks with lenders (Reuters) [New round of] Greek talks with creditors to stretch into weekend, as debt repayment dates approach (The Associated Press) Greece, Euro-Area Partners Target Deal by Sunday (Bloomberg)

Italy Weighs Solution for EU100 Billion of Bad Loans, BOI Says (Bloomberg) Italy bad-bank vehicle could buy 100 bln euros of bad debts-BOI (Reuters)

Majority of Europe's business leaders fear Brexit will harm the Eurozone economy more than Grexit (CityAM)

How Student Loans Could Cripple the U.S. Economy: They’re hardly just a young person’s problem (Bloomberg) Some on Wall Street say $1.2 trillion in student debt could trigger the next market crash (The Business Insider)

Why Ben Bernanke's new PIMCO gig is so troubling (The Week)

GM's Oshawa plant to lose 1,000 jobs; company to invest $5.4-billion in U.S. (The Globe and Mail of Toronto)

Bob Evans to close 20 restaurants, cut 780 jobs (The Dayton Business Journal of Dayton, Ohio)

     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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