Tuesday, November 10, 2015

Tuesday roundup (11-10-15)

World energy watchdog fears 1970s oil crunch as Mid-East regains stranglehold: The Mid-East share of global oil exports will rise to 75pc if oil prices stay low and investment collapses, risking a strategic crisis in the future by Ambrose Evans-Pritchard (The Telegraph)

Fresh fears for the Eurozone after Portuguese government is ousted by Left-wing alliance promising spending spree and tax cuts - despite €78bn bailout from Europe (The Daily Mail) Portugal’s Government Ousted in Challenge to Austerity (The New York Times) Portuguese lawmakers force government to resign by rejecting its austerity policies (The Associated Press) New Portugal government's anti-austerity drive complicates eurozone budget plans (Financial Review)

Greek deflation eases in Oct., prices drop for 32nd straight month (Reuters)

Surging living costs leave only 50pc of Britons saving into pensions: Pensions are moving down the agenda for low earners, who are struggling to pay the bills (The Telegraph)

China's Deflation Pressures Signal More Monetary, Fiscal Easing (Bloomberg)

Fed's Williams says 'very strong case' to raise rates next month (USAToday) Onto The Next Question (Tim Duy's Fed Watch blog)

Americans are piling on record debt (CBSMoneywatch)

     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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