Wednesday, October 28, 2015

Wednesday roundup (10-28-15)

Sub-zero interest rates have floor nearby, albeit a shaky one (Reuters)

[Meanwhile,] Banks are seriously discussing negative interest rates for normal people's savings (The Business Insider)

Italy sells six-month debt at negative yields for first time ever (Reuters)

Deutsche Bank Plans to Eliminate Dividend for Two Years in Overhaul (Bloomberg)

Sweden's Riksbank Expands QE Program as ECB Stimulus Weighs (Bloomberg)

Britain is heading for another 2008 crash: here’s why: The government wants us to believe our economic growth is sustainable, and that budgetary surplus will fix all our problems. But these are dangerous myths (The Guardian)

Bank of Japan Faces Pressure to Act on Economy: Facing a global slowdown, Japan’s central bank is taking a fresh look at further stimulus (The Wall Street Journal)

Fed puts December rate hike firmly on the agenda (Reuters) [versus] Opinion: How Mario Draghi will stop Janet Yellen from raising rates for years: As long as the ECB is printing money, no central bank can lift interest rates (Marketwatch)

One Issue Mike Huckabee and Bernie Sanders Can Agree on: Break Up the Big Banks (The Street)

Why Donald Trump Could Win the Republican Nomination: The far right isn't what's buoying the populist plutocrat. (Bloomberg)

In U.S., Support for Tea Party Drops to New Low (Gallup)

DPS [Detroit, Michigan, Public Schools] could be insolvent by spring, state treasurer warns (The Detroit News)

     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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