Tuesday, November 24, 2015

Tuesday roundup (11-24-15)

Weather disasters occur almost daily, becoming more frequent [around the globe]: U.N. (Reuters)

European banks sitting on €1tn mountain of bad debt, survey finds: Analysis of 105 banks by European Banking Authority raises concerns over ‘drag on profitability’ from non-performing loans (The Guardian) Europe must tackle bad loans to recover: IMF (CNBC)

Europe – Here we GO Again by Martin Armstrong (Armstrong Economics blog)

The $400 billion ripoff that could destroy the Greek bailout (CNBC)

Socialist Costa to head Portuguese government with uneasy far-left backing (Reuters)

Carney Says Low U.K. Interest Rates to Remain `For Some Time' (Bloomberg)

Majority of Britons now want 'Brexit': Poll (CNBC)

U.S. Consumer Confidence Falls to Lowest in More Than a Year (Bloomberg) America's sentiment toward the jobs market has turned (The Business Insider)

Fed's Tarullo Remains Worried by Low Inflation Despite Job Gains (Bloomberg)

Fed Official Expects Test for Big Banks to Be Stricter (The New York Times blogs)

     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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