Friday, November 20, 2015

Friday roundup (11-20-15)

Paris attacks deal fresh blow to struggling eurozone economy: European Central Bank expected to increase quantitative easing as French consumer spending collapses amid ‘avalanche’ of tourist cancellations (The Guardian)

ECB chief: ‘won’t hesitate’ to expand stimulus if needed (The Associated Press)

[UK's] NHS in 'unprecedented financial meltdown': Agency staff and bed-blocking blamed as deficit hits £1.6 billion in just six months (The Daily Mail)

[In the United States,] Fed Says Mortgages Push Household Debt to Highest Since 2010 (Bloomberg)

Half of New Yorkers Say They Are Barely or Not Getting By, Poll Shows (The New York Times)

Ky. retirement system faces $19.6B shortfall (The Louisville Courier-Journal)

Jindal plan to close $487M budget deficit [in the state of Louisiana] wins approval (The Associated Press)

SocGen Will Cut 2,000 Jobs by 2020 as Part of Branch Closures (Bloomberg)

Layoffs to follow holiday furloughs at Honeywell; whisteblower says 1K Valley workers will lose jobs (ABC15)

Tyson Foods to close two plants, cut 880 jobs (Reuters)

     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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