Tuesday, May 26, 2015

Tuesday roundup (05-26-15)

Growth rates are 'anemic': Economist: Steve Keen, head of the School of Economics, Politics & History at Kingston University in London, warns that private sector debt is too high. (CNBC)

Fears over economic meltdown as Greece 'set to default' NEXT WEEK without EU cash loan: EUROPE is gearing up for disaster next week as a looming Greek default and exit from the eurozone is poised to spark economic meltdown. (The Express) Eurozone leaders attempt to quell fears of Grexit panic: As time runs out for Greece to pay its IMF debts, eurozone officials attempt to assure markets that the currency union will not fall apart (The Telegraph) Pray For Graccident—–It Will Trigger The Demise Of The ECB And The World’s Toxic Regime Of Keynesian Central Banking (David Stockman's Contra Corner)

Germany sees progress on Greece, EU officials to confer on Thursday (Reuters)

Russia recovery talk premature as sanctions threaten to cripple economy (The Washington Times)

Fed rate hikes may trigger global volatility: Fischer (Reuters) Four [regional] Fed banks renewed call for discount rate hike: minutes (Reuters)

U.S. Senator Warren calls for public hearings on bank waivers - FT (Reuters)

Hold bankers accountable for their crimes (The Washington Post)

The 8 biggest job-killing companies: Unemployment is at its lowest level since 2007, but some companies are still cutting lots of jobs. (CNNMoney)

Malaysia Airlines to lay off one-third staff [= about 6,000] as restructuring concludes (CNNMoney)

     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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