Sunday, May 17, 2015

Sunday roundup (05-17-15)

Disaster For Markets And Economies Worldwide And Chaos On A Global Scale (King World News) David Stockman – We Are Now Entering The Terminal Phase Of The Global Financial System That Will End In Total Collapse (King World News)

The Coming Crash of All Crashes – but in Debt (Armstrong Economics)

Now's the time to tackle the great debt distortion: It's time to end harmful subsidies [in the global economy], starting with a mortgage deduction. (The Economist)

The world economy’s titanic problem: Coping with the next recession without policy lifeboats [as posted here May 14; Zero Hedge blog via] (Scribd)

Free from creditors' control, Portugal still struggles with austerity (Agence France Presse)

Britain faces first deflation in 55 years: Supermarket price wars and fall in cost of oil have led to drop in cost of living over past 12 months (The Daily Mail)

China Calls On Banks to Support State Projects as Economy Slows (Bloomberg)

The Warren-Vitter "Bailout Prevention Bill" [Introduced In The United States Senate] Won't Prevent Bailouts (Forbes)

Tom Brady isn't the only one that should fear deflation—the economy should too (CNBC)

California's drought drama and how we got here: The historic California drought explained, and how some scientists forecast a mega-drought in the coming decades. (CNBC)

     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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