Thursday, October 29, 2015

Thursday roundup (10-29-15)

Another recession is coming - the only question is how bad: Governments must end today's destructive dependency on central banks, which will lead to financial bust (The Telegraph)

Households [in the UK] warned over interest rate rises as debt levels soar: BORROWING among British households has seen the biggest annual jump since 2006, leading to fears that families could suffer when interest rates start to rise. (The Express)

Bombardier Gets $1 Billion From Quebec to Support Jet Program (The New York Times) Bombardier Bailout Shows Quebec `Always' on Jetmaker's Side (Bloomberg)

US economy slowed to 1.5 pct. growth rate in July-Sept. quarter as businesses cut stockpiles (The Associated Press)

Resurrecting Glass-Steagall by Simon Johnson (Project Syndicate)

At Republican Debate, Fantasy Sports Got More Attention Than Wall Street (The New York Times)

GOP candidates plot debate revolt against RNC (CNNMoney)

Venezuela is running out of cash and selling its gold (CNNMoney)

Deutsche Bank To Cut 35,000 Jobs, A Quarter Of Its Workforce: The announcement came Thursday as the bank reported a net loss of 6 billion euros. (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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