Wednesday, November 25, 2015

Wednesday roundup (11-25-15)

Europe's central banks in quandary as Fed tightening nears (Reuters) [versus] Here’s What Jim Rickards Said about the Fed [= he believes that the Fed will not raise interest rates yet] (MoneyMorning)

NATO survived Cold War, but downed Russian jet provides biggest threat (CNN) Is Turkey Trying to Distract the World From its Debt Crisis Shooting Down a Russian Plane? by Martin Armstrong (Armstrong Economics blog)

George Osborne's Autumn Statement ushers in the end of austerity but increases taxes: The Chancellor uses his Autumn Statement to slow the Government's austerity programme by reversing welfare cuts and protecting police budgets, but increases taxes on property and businesses. (The Telegraph) George Osborne delays the fiscal pain but it will still be ferocious: The Chancellor is right to stop us living so far beyond our means, but he has yet to grapple with the chronic pathologies of the British economy by Ambrose Evans-Pritchard (The Telegraph)

Why China ‘spillover’ poses risks for the euro zone (CNBC) Bank of America: The 'Great Divorce' Between the World's Two Largest Economies Will Drive Currency and Rates Markets in 2016: The "marriage of convenience" is over. (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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