Friday, June 12, 2015

Friday roundup (06-12-15)

Decade of drought: a global tour of seven recent water crises: With a chronic overuse of resources, it only takes a few bad rainfalls or poor management decisions to plunge a region into crisis (The Guardian)

Eurozone discussed possible Greek default: For the first time, insiders have revealed that senior eurozone officials have explicitly discussed the possibility of Greek default. The news came as brinkmanship over a bailout deal sent global shares skidding. (Deutsche Welle) Eurozone Raises Specter of Default as Pressure Mounts in Greek Bailout Talks: Discussion came same day International Monetary Fund halted talks with Athens (The Wall Street Journal) EU Prepares for Worst as Greece Drives Finances to Brink (Bloomberg)

Fearful ECB starts countdown on Greek funding lifeline (Reuters)

Germany: Greek Bailout Solution 'Unthinkable' Without IMF (The Dow Jones Newswires)

Majority of Germans against Greece staying in eurozone: Poll (Agence France Presse)

Merkel asks experts to draw up plans to protect German economy from Grexit as reports say she is 'resigned' to Greece leaving eurozone (This is Money) Grexit 'no longer out of the question' for Merkel (The Local)

Italy’s Quick Austerity Fixes Return to Plague Renzi’s Finances (Bloomberg)

Left-wing mayors surge into office in Spanish cities [The Wall Street Journal via] (Marketwatch)

UK risks losing last AAA rating as S&P eyes EU exit vote (Reuters)

[In the United States,] House Rejects Trade Bill, Rebuffing Obama’s Dramatic Appeal (The New York Times) Obama-backed trade bill fails in the House (The Washington Post)

Washington Dysfunction, With a Twist: Democrats Desert Their President (The New York Times) House Fast-Track Rejection a Blow to Global Trade Negotiations (Bloomberg)

Fast-track Hands the Money Monopoly to Private Banks — Permanently by Ellen Brown (The Web of Debt blog)

Elizabeth Warren: Why Jamie Dimon doesn't like me (CNNMoney)

Ford [Foundation] Shifts Grant Making to Focus Entirely on Inequality (The Chronicle of Philanthropy)

     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.

No comments:

Post a Comment