Tuesday, May 19, 2015

Tuesday roundup (05-19-15)

France warned to curb 'critically high' public spending by IMF: International Monetary Fund says "high and rising government spending has been at the heart of France’s fiscal problems for decades" (The Telegraph)

IMF Chief: Greek Bailout Talks Making Some Progress (Dow Jones Newswires) [Eurogroup chair] Dijsselbloem: Greece bailout talks 'progressing' (ekathimerini)

Europe faces second revolt as Portugal's ascendant Socialists spurn austerity: Germany is worried that any concession to Greece will set off political contagion and cause fiscal discipline to collapse across southern Europe by Ambrose Evans-Pritchard (The Telegraph)

UK inflation negative for the first time since 1960 (CNBC) It's official - Britain is in deflation: The UK has tipped into deflation - with overall prices for goods and services falling - for first time since records began (The Telegraph)

Japan Finance Ministry draft reveals deep rift on fiscal reform (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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