Wednesday, November 4, 2015

Wednesday roundup (11-04-15)

CEOs wary of economic conditions worldwide: Survey (CNBC)

Eurozone Economic Growth Remains 'Frustratingly Weak' (The Associated Press) Euro zone business growth remained tepid in October: PMI (Reuters)

E.U. Is Split Over How to Prepare for Euro Crises to Come (The New York Times blogs)

Japan PM calls for steps to achieve a $5 trillion economy (Reuters)

U.S. Presses Europe to Take Steps to Reduce Greece's Debt Burden (Bloomberg)

UK shop prices fall for 30th consecutive month in the run up to Christmas: Clothing, books and DIY items were among the goods that experienced the deepest levels of deflation (The Independent)

Kansas could face a $100M budget deficit (Kansas City Business Journal blog)

MCTS [= the Milwaukee County Transit System] faces $1.5 million budget deficit (WDJT)

Maersk Line to Cut Capacity and [4,000] Jobs as Global Demand Sags (Bloomberg)

Kraft Heinz to Close 7 Plants in US, Canada, Cut 2,600 Jobs (The Associated Press)

     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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