Monday, November 30, 2015

Monday roundup (11-30-15)

EU to 'break up unless flaws fixed’ [says Yanis Varoufakis, the economist and former Greek finance minister] [The Australian Business Review via] (Business Spectator)

Greece aims for debt relief deal in Feb 2016 after reforms done (Reuters)

Italy’s Bad Debt Experience (The Market Mogul)

Bank of England says [British] households bingeing on cheap credit cards and personal loans at fastest rate since before financial crisis (This Is Money)

Russia risks higher budget deficit, must make choices - Finance Minister (Reuters)

New Fed rule limits its crisis bailout powers (Reuters) Fed officially ends too-big-to-fail lending (USAToday)

Wall Street Banker Brazenly Admits To Loving Bernie Sanders (Dealbreaker) Meet the Wall Street Banker Backing Bernie Sanders (TheTakeAway)

Brazil posts biggest ever primary deficit for October (Reuters)

Gigaset to cut 550 jobs by end of 2018 (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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