Tuesday, June 2, 2015

Tuesday roundup (06-02-15)

Because of Greece, the eurozone's future is a two-tier Europe (The Independent)

Greek submits a draft bailout plan to unlock loans but creditors say 'not there yet' (The Associated Press)

Greek bailout monitors hold emergency summit [The Financial Times via] (CNBC) Greece’s Alliances Fade in European Debate About Its Debt Crisis (The New York Times)

Greece's creditors draft deal to unlock aid, Athens resists (Reuters)

Greek default draws closer as opposing sides swap ultimatums: 'The Greeks cannot have their cake and eat it. A hard choice has to be made between euro exit and adjustment to remain in EMU,' says Goldman Sachs by Ambrose Evans-Pritchard (The Telegraph)

Greece will NOT submit to BLACKMAIL: Desperate talks amid fears of HUGE ripple across EU: GREECE's looming bankruptcy would have a "GIGANTIC" effect on the European Union, a top German minister has warned today – hours after eurozone leaders held desperate emergency talks in a bid to stave off crisis. (The Express)

With jobless rate above 50%, disillusioned Greek youths becoming a 'lost generation' (The Los Angeles Times)

Why Spain and Other Eurozone Countries Aren’t Feeling the Recovery: Economic growth comes with lower incomes, making it difficult to escape heavy debt loads (The Wall Street Journal)

O’MALLEY: PRESIDENCY [OF THE UNITED STATES IS] ‘NOT A CROWN’ FOR WALL STREET TO GIVE TO ‘TWO ROYAL FAMILIES’ (Breitbart) Martin O'Malley is happy to be 'the last person' Wall Street CEOs want running in 2016 (The Business Insider)

NYSE Margin Debt Hits a New Record High (Advisor Perspectives)

Sikorsky [Aircraft Corp.] to Cut 1,400 Jobs, Citing Falling Oil Production (The Associated Press)

     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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