Saturday, June 6, 2015

Saturday roundup (06-06-15)

The Public’s Illusions Are About To Be Crushed As The Biggest Ponzi Scheme In World History Implodes (King World News)

Hollande, Merkel, Tsipras in new Greek debt crisis talks (Agence France Presse) EU's Juncker snubs Greek PM after 'absurd' debt deal rebuff (Reuters)

Finland’s Prospects Downgraded at Moody’s as Economy Shrinks (Bloomberg)

Deflation continues in May 2015 [in Cyprus] for 23 consecutive months (Famagusta Gazette)

The never-ending Greek drama will help the Brexit supporters: There has been growing public awareness [in the UK] of the euro's structural weakness and incoherence (The Telegraph)

A US court just slapped Argentina with a $5.2 billion demand (Agence France Presse)

The Fed & Interest Rates: The Nightmare That Will Not End Nicely (Armstrong Economics)

How the [American] Red Cross Raised Half a Billion Dollars for Haiti ­and Built Six Homes: Even as the group has publicly celebrated its work, insider accounts detail a string of failures (ProPublica)

The inside story of how the Clintons built a $2 billion global empire (The Washington Post)

California Farmers Dig Deeper for Water, Sipping Their Neighbors Dry (The New York Times) After Water (LongReads blog)

     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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