Wednesday, November 11, 2015

Wednesday roundup (11-11-15)

Negative Interest Rates the New Normal Next Time Economies Slump (Bloomberg)

G20 Finalizes Bank Bailin Rules (Cliff Küle’s Notes blog)

ECB to consider QE boost, deposit rate cut to hit target - Visco (Reuters)

ECB mulls buying debt of cities and regions - sources (Reuters)

'Sick man of Europe' Finland agonizes over austerity (Reuters)

Fitch warns that Portuguese government debt is at risk of downgrade if Socialists take over (CityAM)

‘Pause’ in growth means bigger deficit, Ottawa’s budget office says: Updated figures released Tuesday suggest a slowing economy will make it tougher for the Liberals to fulfil their election promise to balance the books by 2019-20. (The Canadian Press)

GOP contenders [for next US President] try to channel Warren on Wall Street: During the debate Republicans sounded surprisingly like left-wing hero Elizabeth Warren. (Politico) Now Republicans hate Wall Street too (CNNMoney) Why GOP Debate Was a Bad Sign for Big Banks (The American Banker)

[versus] Republicans Are Obsessed With Deregulating Wall Street: They just don't like to put it that way. (The Huffington Post) GOP candidates unified on keeping big banks intact (The Deal Pipeline) The ghosts of 2008: Watching the Republican candidates talk about the financial crisis was a reminder of why they'd prefer not to. (Politico)

The Lessons of Repealing Glass Steagall (The Huffington Post)

Connecticut Lawmakers Look To Plug $1.4 Billion Budget Gap (CBSNewYork) Lower Tax Revenues = Grimmer Connecticut Budget Picture (The Hartford Courant)

Despite tax hike, Chicago still faces huge pension fund gap (CNBC)

Macy's cuts full-year forecast, sends shivers through retail (Reuters)

[Italy's] UniCredit to shed 18,200 jobs and boost capital (Reuters)

Carlsberg Advances Most in Five Years as Brewer Cuts 2,000 Jobs (Bloomberg)

     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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