Tuesday, November 17, 2015

Tuesday roundup (11-17-15)

El Nino on track to be one of the 'worst ever': UN (CNBC)

Four euro zone countries [Italy, Lithuania, Austria and Spain] risk breaking EU rules with 2016 budgets (Reuters)

German auditors warn of risks to balanced budget: A German financial watchdog has warned the German government's preoccupation with balanced annual federal budgets covers up a number of underlying risks. They point to grave structural discrepancies. (Deutche Welle)

Greece reaches deal with lenders over reforms unlocking stalled aid (Reuters)

Britain remains stuck in deflation: Falling price of travel and university tuition fees sees consumer prices dip 0.1pc in October (The Telegraph)

Economic Contractions Are Becoming Awfully Common in Japan: Japan ties with Italy as the worst in the G-7 (Bloomberg)

Japan's Problems Will Not Be Solved By More QE, RBS Warns (ZeroHedge blog)

4 years after Occupy Wall Street, big banks [in the United States] are hurting (CNNMoney)

5 Reasons Why Glass-Steagall Matters (The Huffington Post)

Telus cuts 1,500 jobs from Canadian workforce (The Vancouver Sun)

     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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