Tuesday, April 7, 2015

Tuesday roundup (04-07-15)

Don’t expect much improvement to living standards, IMF says [in a grim look at the world economy] (Marketwatch) Exhausted world stuck in permanent stagnation warns IMF: The global economy is acutely vulnerable to a fresh recession with debt ratios at record highs. The authorities have already used up most of their ammunition by Ambrose Evans-Pritchard (The Telegraph)

Alexis Tsipras flies to Moscow amid speculation of bailout from Putin: Greek prime minister to sign accords with Russia, including gas price discount and possible loans in return for Greek assets, that would alarm EU creditors (The Guardian) Now Greece may turn to Russia for a bailout: Kremlin set to offer discounts on natural gas supplies in exchange for some of Athens ‘assets’ (The Daily Mail)

Greece on warpath for damages [from Germany] as crisis grows (CNBC) Germany dismisses Greek demand for billions in WW2 reparations (Reuters)

Greece’s Worst Option: IMF Default by Mohamed A. El-Erian (BloombergView)

Greece is probably already defaulting on its debt. Here’s why (Fortune)

BOE calls on banks to brace for Greek eurozone exit: Greece is one of the biggest risks to the U.K., policy makers say (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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