Sunday, May 31, 2015

Sunday roundup (05-31-15)

Little Progress On Greece Rescue Talks; Agreement Failing Over The Same Old Things (Forbes) Greece Pins Hopes on Merkel as Talks Yield Little Progress (Bloomberg)

Greece’s Endgame Nears as Tsipras Warns Bell May Toll for Europe (Bloomberg) Alexis Tsipras lambasts 'absurd proposals' for Greece debt-deal failure: Greek leader lashes out at EU, European Central Bank and IMF for months of fruitless negotiations as strains show within Syriza-led government (The Guardian) Defiant Tsipras threatens to detonate European crisis rather than yield to creditor "monstrosity": The Greek prime minister has accused Europe's leaders of 'issuing absurd demands' by Ambrose Evans-Pritchard (The Telegraph)

Politicians 'waiting for accident to happen' in Greece: José Manuel Barroso, the former head of the European Commission, says policymakers are in danger of letting Greece slip out of the euro as ministers signal Athens is ready to compromise (The Telegraph)

EU's Juncker warns against Greek exit from euro: paper (Reuters)

Confidence in UK property market dips despite wage rises, deflation, low interest rates and rising house prices (This is Money)

Texas floods: Enough rain fell in May to cover entire state 8 inches deep (CNN) What's causing the devastating floods in Texas and Oklahoma?: The severe flooding in Texas and Oklahoma is caused by an El Niño pattern that has split the jet stream in two. (The Christian Science Monitor)

Ten years since its last hurricane, Florida more vulnerable to catastrophe than ever, experts say (The Tampa Bay Times)

     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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