Monday, May 11, 2015

Monday roundup (05-11-15)

Big banks flag dangers of financial bubble in oil and commodities: Barclays warns that the latest commodity boomlet has charged ahead of economic reality across the world: 'Watch out: this rally may not last' by Ambrose Evans-Pritchard (The Telegraph)

Some eurozone banks 'just as likely to fail' as they were before 2008 crisis: University of Portsmouth research shows some banks just as vulnerable to collapse despite efforts to improve their resilience (The Guardian)

IMF draws up contingency plans for Greek default: Working with authorities in southeastern Europe [The Wall Street Journal via] (Marketwatch)

Greece seemingly has no Plan A or Plan B on debt (Reuters blogs)

Could Greece ever pay off all its debt? Tomorrow's IMF repayment is just the tip of the iceberg (CityAM) Greece to repay IMF but eurozone deal far off (Agence France Presse)

Merkel Pressed to Give Up Greece as Germans Urge Strong Euro (Bloomberg)

Bad debt at Italian banks rises to 189 bln euros in March (Reuters)

Fear of ruin as disease takes hold of Italy's olive trees [The New York Times via] (CNBC)

In Spain, with a recovery like this, who needs recessions?: After years of stagnation, Spain’s economy is growing. But the recovery feels shaky, and for good reason. (Fortune)

Bank of England Holds Rates Steady (The New York Times)

Why UK’s EU referendum [on a "Brexit"] may be sooner than you think (CNBC)

More evidence U.S. job creation has lost sizzle: Fed index of labor-market conditions weakest since mid-2012 (Marketwatch)

Young Americans have yet another debt burden: The unfunded pension liabilities of state governments are being deferred to those who can afford them least (Marketwatch)

Lonmin aims to cut 3,500 South African jobs due to weak platinum price (Reuters)

     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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