Wednesday, April 15, 2015

Wednesday roundup (04-15-15)

IMF tells regulators to brace for global 'liquidity shock': Financial engineering that preceded the last two financial crises is back, International Monetary Fund warns by Ambrose Evans-Pritchard (The Telegraph)

[Global] Regulators eye further changes to end too-big-to-fail banks (Reuters)

France Deficit Efforts Still Fall Short of EU Recommendations (Dow Jones Newswires)

Germans downbeat on chances of Greek deal next week (Reuters) Germany says aid payout to Greece in April unrealistic (Reuters) [Meanwhile] EU Says Talks With Greece Over Bailout are Nowhere Near Resolution: European Commission’s vice president plays down possibility of major advances at upcoming eurozone meeting (The Wall Street Journal)

Greece misses 2014 budget deficit targets, adding pressure to bailout talks (The Associated Press) Greek deficit hits 3.5% of GDP in 2014 (Agence France Presse)

Risk of a 'Grexit' is higher today: Barroso (CNBC)

Greece at substantial risk of default, say experts: Greece’s credit rating cut by Standard & Poor’s as drawn out negotiations between Athens and its creditors further damages Greek economy (The Guardian)

[US Treasury Secretary] Lew Urges Greece to Reach Deal With Creditors to Avoid Euro Exit (Bloomberg)

It's Time for the Eurozone to Let Greece and Tsipras Go (The Street) The European Union -- Will It Die? (Forbes)

S&P cuts Greece rating, outlook 'negative' (CNBC)

UK will still be in deficit by 2020, says IMF: Watchdog says state will continue to spend more on public services and welfare than it raises through taxes (The Daily Mail)

China growth slowest in six years, more stimulus expected soon (Reuters) China’s First-Quarter GDP in Four Charts (The Wall Street Journal blogs)

Japan now holds more U.S. debt than China (CNNMoney)

Japan's huge debt pile just got scarier: Japanese government debt will soar to 400pc of GDP within 30 years unless policymakers implement vital reforms, OECD warns (The Telegraph) OECD says Bank of Japan has done enough, warns of risks (Reuters)

New York state manufacturing activity slows [to a multi-year low] in April - NY Fed (Reuters)

Warren Calls for Breaking Up the Banks: In blunt message, Sen. Warren says bigger banks should be limited to 'boring banking.' (US News & World Report) Elizabeth Warren's New Agenda for Democrats on Financial Reform: The progressive favorite delivered a speech that could become a blueprint for what liberals would want from Democratic candidates in 2016. (The National Journal) Elizabeth Warren Hammers The Endless Failures Of Wall Street Regulators (The Huffington Post)

Bank of America facing breakup calls after results fall short (The New York Post)

U.S. Forced to Import Corn as Shoppers Demand Organic Food (Bloomberg)

Download the True Food Shopper's Guide: How to Avoid Foods Made with Genetically Modified Organisms [GMOs] (The Center for Food Safety) Say "No" to GMOs (Non-GMO Project) THE GREAT GMA COVERUP INFOGRAPHIC (WalkByTheWay) GMO Free USA (Facebook) Millions Against Monsanto by OrganicConsumers org (Facebook)

     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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