Monday, November 16, 2015

Monday roundup (11-16-15)

End of ‘Too-Big-to-Fail’ Banking Era Endorsed by World Leaders (Bloomberg)

France swats aside EU budget rules in rearmament blitz: “The security pact takes precedence over the stability pact. France is at war,” said President Hollande by Ambrose Evans-Pritchard (The Telegraph)

Finnish parliament will debate next year leaving euro zone (Reuters)

[In the UK,] Barclays, HSBC, Royal Bank of Scotland 'at risk of further penalties': Investigations into financial crisis conduct show ‘no signs of abating’, warns Moody’s (The Guardian)

Japan Economy Contracts 0.8%, Returning to Recession (The New York Times)

Manufacturing in New York shrinks for fourth straight month on weak orders, less hiring (The Associated Press)

Gas Prices Are Plummeting, $1.50 Per Gallon Coming Soon (Money)

Car loans hit $1 trillion for first time (CNNMoney)

Warren Investigation Finds Taxpayers Could Be on the Hook for $10 Trillion in Risky Derivatives: After Congress rammed through a 'cromnibus' spending bill last year that repealed parts of Dodd-Frank financial regulation, UMKC's Bill Black explains how with or without this repeal another Wall Street bailout is still a real possibility (The Real News) (Youtube)

Enbridge trims [500] jobs as company copes with energy downturn (The Globe and Mail of Toronto)

     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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