Sunday, May 10, 2015

Sunday roundup (05-10-15)

China cuts interest rates for third time in six months as economy sputters (Reuters) China Adds Stimulus With Third Interest-Rate Cut in Six Months (Bloomberg) China Cuts Rates to Halt a Slide in its Economy (The New York Times)

Eurozone Ministers to Meet Again on Greek Debt (The New York Times)

Greece Readies for Another Week of Deadlines (Bloomberg) Greece's 'war cabinet' prepares to battle EU creditors as anger mounts: The country's radical-Left leaders have concluded that there is little be gained from any further concessions to EMU creditors by Ambrose Evans-Pritchard (The Telegraph) Tsipras' Greek Dilemma; Default Or Betray His Electorate (Forbes) Greece debt repayment uncertain amid fresh round of talks: Cash-strapped nation is due to repay €770m on Tuesday, with its finance minister indicating it could avoid a default it was thought to be heading for (The Guardian)

I.M.F. and Central Bank Loom Large Over Greece’s Debt Talks (The New York Times blogs) How the European Central Bank became the real villain of Greece's debt drama: Discretionary power exercised by the central bank has put it at the heart of Greece’s euro turmoil (The Telegraph)

Anti-austerity group plans protest outside Bank of England: People’s Assembly calls for demonstration on ‘doorstep of the very people who created the crisis’ after Downing Street protest marred by violent clashes (The Guardian)

     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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