Monday, November 2, 2015

Monday roundup (11-02-15)

Global factories struggle as stimulus fails to spur (Reuters)

Eurogroup's Dijsselbloem: Greece has 'much work to do' on debt (Reuters)

Porsche, more Audi models pulled into VW emissions scandal (Reuters) 10,000+ More Volkswagen Vehicles Have Emissions Cheating Mechanisms, EPA Says (ABCNews)

China's manufacturing sector contracts for third month in a row: Official PMI came in at 49.8 for October, while new export orders were also down for the 13th month in succession (The Guardian)

President Obama signs 2-year budget deal (CBSNews)

$20 trillion man: National debt nearly doubles during Obama presidency (The Washington Times)

An earnings recession is looming: S&P 500 EPS on track to suffer back-to-back quarterly declines for first time since the Great Recession (Marketwatch)

The Liquidity Gap (The Big Picture blog)

Why do so many young adults live at home? A record 34.5 percent of Millennials live at home with their parents in California. (DrHousingBubble)

     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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