Wednesday, April 1, 2015

Wednesday roundup (04-02-15)

Greece sends updated reforms, pledges to pay IMF on time (Reuters) REPORT: Greece doesn't want to pay its IMF debt back on time (The Business Insider)

Greek defiance mounts as Alexis Tsipras turns to Russia and China: Alexis Tspiras is playing an escalating game of brinkmanship, trying to force Europe to give ground or risk a chain-reaction that could cripple the EU by Ambrose Evans-Pritchard (The Telegraph)

Portugal PM sees voters backing reforms to avoid new crises (Reuters)

China's economy just touched the government's chilling 'red line' (The Business Insider)

U.S. manufacturing growth slows to 22-month low - ISM (Reuters) Why is no one talking about a recession? (Marketwatch)

The Housing Origins Of Both The Great Recession And Wealth Inequality (Forbes)

The Fed Has Failed the Nation, in One Chart by Charles Hugh Smith (of two minds blog)

California Imposes First-Ever Water Restrictions to Deal With Drought (The New York Times) California governor orders mandatory water restrictions (The Associated Press)

     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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