Thursday, November 12, 2015

Thursday roundup (11-12-15)

Euro-Area Industrial Production Falls 0.3%, More Than Forecast (Bloomberg) Euro zone production falls more than expected in September (Reuters)

Greek Strike Shows Conflict Within Government Over Austerity (The New York Times) Greek Debt Crisis: Workers Strike Against ‘Unfair’ Bailout Terms As Lender Pressure Mounts (International Business Times)

UK's David Cameron faces Conservative pushback on austerity (CNNMoney)

Between Debt and the Devil by Adair Turner, book review: A radical analysis: What's novel in Turner's book is not the proposition that debt can be dangerous, but that debt is what modern financial systems naturally create; and always to excess (The Independent) Fresh thoughts: A British regulator on the financial crisis (The Economist)

Slump in China credit in Oct highlight growth challenges (Reuters) China Credit Growth Falls as Tepid Economy Dents Loan Demand (Bloomberg)

China Speeds Up Fiscal Spending in October to Support Growth (Bloomberg)

Wholesale Inventories [in the United States] Have Never Been Higher Relative To Sales, Ever [Nov. 10] (ZeroHedge blog)

Fed officials lay case for December liftoff (Reuters)

Glass-Steagall takes center stage in 2016 (The Hill)

Former Citigroup CEO: Big banks don't work (CNNMoney) Citigroup's former CEO thinks the 'glory days' for big banks are gone forever (The Business Insider)

Goldman Sachs Says Corporate America Has Quietly Re-levered: One of the biggest post-financial crisis imbalances sits on corporate balance sheets, according to analysts at the bank. (Bloomberg) Yeah. This is Going to End Well. (The Mess That Greenspan Made blog)

Moody's sees Puerto Rico defaulting on some debt payments due Dec. 1 (Reuters)

Heavy-Equipment Dealer Finning Slashes 1,100 Jobs: Cuts bring overall workforce reductions to 13% this year for Caterpillar equipment dealer (The Wall Street Journal)

     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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