Friday, May 8, 2015

Friday roundup (05-08-15)

Varoufakis Says Greece Ready to Take EU Impasse Down to the Wire (Bloomberg)

U.S. Urges Greece to Reject Russian Energy Project (The New York Times)

Why Poland’s negative yield bond is still hot (CNBC)

Cameron gets a big go-ahead for his British austerity programs (USAToday) UK's Cameron keeps Osborne as finance minister to pursue deficit push (Reuters)

U.S. Economy Added 223,000 Jobs in April; Unemployment Rate at 5.4% (The New York Times) The good news is the recovery is the same as ever. The bad news is the recovery is the same as ever. (The Washington Post blogs)

A Multinational Trojan Horse: The Trans-Pacific Partnership (The Huffington Post)

Crushing student debt putting squeeze on graduates and the economy: Elected leaders in Washington push to reform system (KESQ) Black Students Feeling Especially Crushed By Student Debt (Moyers & company)

Huckabee Hammers Big Banks in South Carolina (Bloomberg)

US Regulators Close Small Chicago Bank (The Associated Press) Number of area bank failures since 2009 nears 50 (Crain's Chicago Business) Edgebrook Bank of Chicago IL had a troubled assets ratio of 180 percent. (BankTracker)

SBM OFFSHORE TO CUT 1,500 JOBS; 300 MORE THAN EXPECTED (NLTimes)

Rolls-Royce job cut total reaches 1,300 (Business Reporter)

     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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